Expressing the sense of the House of Representatives that the Board of Governors of the Federal Reserve System and the Federal Open Market Committee should not be permitted to develop, create, or implement a central bank digital currency, or use any such tool to implement monetary policy.

Bill 118 H.Res. 629, titled "Expressing the sense of the House of Representatives that the Board of Governors of the Federal Reserve System and the Federal Open Market Committee should not be permitted to develop, create, or implement a central bank digital currency, or use any such tool to implement monetary policy," is a resolution introduced in the US House of Representatives.

The purpose of this resolution is to convey the House's opinion that the Federal Reserve should not be allowed to pursue the development or implementation of a central bank digital currency (CBDC) or use such a tool to conduct monetary policy. The resolution specifically targets the Board of Governors of the Federal Reserve System and the Federal Open Market Committee, urging them to refrain from moving forward with any plans related to a CBDC.

The resolution suggests that the House believes that the introduction of a CBDC could have negative implications for the US financial system and economy. It raises concerns about potential risks and challenges associated with a CBDC, such as privacy issues, cybersecurity threats, and the potential for destabilizing the traditional banking system. Overall, Bill 118 H.Res. 629 reflects the House's stance on the issue of central bank digital currencies and seeks to prevent the Federal Reserve from pursuing such initiatives in the future. It is important to note that this resolution does not have the force of law, but rather serves as a statement of the House's position on the matter.