Introduced:
Feb 6, 2025
Policy Area:
Finance and Financial Sector
Congress.gov:
Bill Statistics
2
Actions
2
Cosponsors
1
Summaries
1
Subjects
1
Text Versions
Yes
Full Text
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Latest Action
Feb 6, 2025
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Summaries (1)
Introduced in Senate
- Feb 6, 2025
00
<p><b>No Central Bank Digital Currency Act or the No CBDC Act</b></p> <p>This bill generally prohibits the Federal Reserve Board, Federal Reserve Banks, the Department of the Treasury, and other agencies from issuing or using a central bank digital currency. </p>
Actions (2)
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Type: IntroReferral
| Source: Senate
Feb 6, 2025
Introduced in Senate
Type: IntroReferral
| Source: Library of Congress
| Code: 10000
Feb 6, 2025
Subjects (1)
Finance and Financial Sector
(Policy Area)
Cosponsors (2)
(R-TX)
Feb 6, 2025
Feb 6, 2025
(R-FL)
Feb 6, 2025
Feb 6, 2025
Full Bill Text
Length: 2,179 characters
Version: Introduced in Senate
Version Date: Feb 6, 2025
Last Updated: Nov 16, 2025 2:24 AM
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 464 Introduced in Senate
(IS) ]
<DOC>
119th CONGRESS
1st Session
S. 464
To amend the Federal Reserve Act to limit the ability of Federal
Reserve banks to issue central bank digital currency.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
February 6 (legislative day, February 5), 2025
Mr. Lee (for himself, Mr. Cruz, and Mr. Scott of Florida) introduced
the following bill; which was read twice and referred to the Committee
on Banking, Housing, and Urban Affairs
_______________________________________________________________________
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 Representatives of the
United States of America in Congress assembled,
[From the U.S. Government Publishing Office]
[S. 464 Introduced in Senate
(IS) ]
<DOC>
119th CONGRESS
1st Session
S. 464
To amend the Federal Reserve Act to limit the ability of Federal
Reserve banks to issue central bank digital currency.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
February 6 (legislative day, February 5), 2025
Mr. Lee (for himself, Mr. Cruz, and Mr. Scott of Florida) introduced
the following bill; which was read twice and referred to the Committee
on Banking, Housing, and Urban Affairs
_______________________________________________________________________
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 Representatives of the
United States of America in Congress assembled,
SECTION 1.
This Act may be cited as the ``No Central Bank Digital Currency
Act'' or the ``No CBDC Act''.
SEC. 2.
Section 13 of the Federal Reserve Act is amended by adding after
the 14th undesignated paragraph (12 U.
the 14th undesignated paragraph (12 U.S.C. 347d) the following:
``No Federal reserve bank, the Board, the Secretary of the
Treasury, any other agency, or any entity directed to act on
behalf of the Federal reserve bank, the Board, the Secretary,
or other agency, may mint or issue a central bank digital
currency directly to an individual (including central bank
digital currency issued to an individual through a custodial
intermediary) or a digital currency intermediary, offer related
products or services directly to an individual, or maintain an
account on behalf of an individual (including an account in a
specially designated account at a digital currency intermediary
or supervised commercial bank). No Federal reserve bank may
hold digital currencies minted or issued by the United States
Government as assets or liabilities on a balance sheet of the
bank or use such digital currencies as part of fulfilling the
requirements under
``No Federal reserve bank, the Board, the Secretary of the
Treasury, any other agency, or any entity directed to act on
behalf of the Federal reserve bank, the Board, the Secretary,
or other agency, may mint or issue a central bank digital
currency directly to an individual (including central bank
digital currency issued to an individual through a custodial
intermediary) or a digital currency intermediary, offer related
products or services directly to an individual, or maintain an
account on behalf of an individual (including an account in a
specially designated account at a digital currency intermediary
or supervised commercial bank). No Federal reserve bank may
hold digital currencies minted or issued by the United States
Government as assets or liabilities on a balance sheet of the
bank or use such digital currencies as part of fulfilling the
requirements under
section 2A.
<all>