No CBDC Act

S 464, the "No CBDC Act," prohibits the Federal Reserve, Treasury, and other federal agencies from creating, issuing, or offering central bank digital currency (CBDC) directly to individuals or through intermediaries like banks. It bans these entities from maintaining individual accounts for digital currency, holding government-issued digital money on their balance sheets, or offering related financial services. The bill directly affects federal financial institutions by blocking all federal involvement in developing a government-run digital currency system. It focuses on preventing the U.S. government from entering the digital currency market, rather than regulating private digital assets.