S 464
No cbdc act
No Cbdc Act
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- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
This bill, the No Central Bank Digital Currency Act, aims to prevent the Federal Reserve from creating or using a digital dollar – a central bank digital currency (CBDC). It specifically prohibits the Federal Reserve, the Treasury Department, and other agencies from issuing or distributing CBDC directly to individuals or offering related services. The bill also restricts the Federal Reserve from holding CBDC as assets on its balance sheets. Essentially, it seeks to block the development and implementation of a government-backed digital currency.
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