I
119THCONGRESS
1
STSESSION H. R. 1430
To amend the Federal Reserve Act to limit the ability of Federal Reserve
banks to issue central bank digital currency.
IN THE HOUSE OF REPRESENTATIVES
FEBRUARY18, 2025
Mr. O
GLESintroduced the following bill; which was referred to the Committee
on Financial Services
A BILL
To amend the Federal Reserve Act to limit the ability of
Federal Reserve banks to issue central bank digital currency.
Be it enacted by the Senate and House of Representa-1
tives of the United States of America in Congress assembled, 2
SECTION 1. SHORT TITLE. 3
This Act may be cited as the ‘‘No Central Bank Dig-4
ital Currency Act’’ or the ‘‘No CBDC Act’’. 5
SEC. 2. CENTRAL BANK DIGITAL CURRENCY. 6
Section 13 of the Federal Reserve Act is amended 7
by adding after the 14th undesignated paragraph (12 8
U.S.C. 347d) the following: 9
VerDate Sep 11 2014 17:09 Mar 15, 2025 Jkt 059200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H1430.IH H1430
ssavage on LAPJG3WLY3PROD with BILLS 2
•HR 1430 IH
‘‘No Federal reserve bank, the Board, the Sec-1
retary of the Treasury, any other agency, or any en-2
tity directed to act on behalf of the Federal reserve 3
bank, the Board, the Secretary, or other agency, 4
may mint or issue a central bank digital currency di-5
rectly to an individual (including central bank digital 6
currency issued to an individual through a custodial 7
intermediary) or a digital currency intermediary, 8
offer related products or services directly to an indi-9
vidual, or maintain an account on behalf of an indi-10
vidual (including an account in a specially des-11
ignated account at a digital currency intermediary or 12
supervised commercial bank). No Federal reserve 13
bank may hold digital currencies minted or issued by 14
the United States Government as assets or liabilities 15
on a balance sheet of the bank or use such digital 16
currencies as part of fulfilling the requirements 17
under section 2A.’’. 18
Æ
VerDate Sep 11 2014 17:09 Mar 15, 2025 Jkt 059200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\H1430.IH H1430
ssavage on LAPJG3WLY3PROD with BILLS