No CBDC Act

HR 1430, the "No CBDC Act," prohibits federal entities like the Federal Reserve, Treasury Department, and their agents from creating, issuing, or managing central bank digital currency (CBDC) for individuals or businesses. The bill specifically bans these agencies from minting CBDC directly to people, offering CBDC-related services, maintaining individual accounts (including through intermediaries), or holding government-issued digital currency on their balance sheets. It directly affects the Federal Reserve and other federal agencies by blocking their role in developing a government-run digital currency system. The law aims to prevent federal involvement in digital currency issuance, focusing on restricting specific actions by government bodies rather than impacting private digital currency markets.