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No CBDC Act
3/18/2025, 1:02 PM
Summary of Bill HR 1430
Bill 119 HR 1430, also known as the "Federal Reserve Digital Currency Limitation Act," aims to make changes to the Federal Reserve Act in order to restrict the ability of Federal Reserve banks to issue central bank digital currency (CBDC).
The bill seeks to address concerns about the potential risks and implications of CBDCs, including issues related to privacy, financial stability, and the role of the Federal Reserve in the financial system.
If passed, the bill would impose limitations on the Federal Reserve's ability to create and distribute CBDCs, requiring the Federal Reserve to seek approval from Congress before moving forward with any plans to issue a digital currency. Supporters of the bill argue that these limitations are necessary to ensure proper oversight and accountability in the creation and distribution of CBDCs, while opponents argue that such restrictions could hinder innovation and the development of new financial technologies. Overall, Bill 119 HR 1430 represents an important step in the ongoing debate over the role of digital currencies in the US financial system and the appropriate level of regulation and oversight needed to address potential risks and challenges.
The bill seeks to address concerns about the potential risks and implications of CBDCs, including issues related to privacy, financial stability, and the role of the Federal Reserve in the financial system.
If passed, the bill would impose limitations on the Federal Reserve's ability to create and distribute CBDCs, requiring the Federal Reserve to seek approval from Congress before moving forward with any plans to issue a digital currency. Supporters of the bill argue that these limitations are necessary to ensure proper oversight and accountability in the creation and distribution of CBDCs, while opponents argue that such restrictions could hinder innovation and the development of new financial technologies. Overall, Bill 119 HR 1430 represents an important step in the ongoing debate over the role of digital currencies in the US financial system and the appropriate level of regulation and oversight needed to address potential risks and challenges.
Congressional Summary of HR 1430
No Central Bank Digital Currency Act or the No CBDC Act
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.
Read the Full Bill
Current Status of Bill HR 1430
Bill HR 1430 is currently in the status of Bill Introduced since February 18, 2025. Bill HR 1430 was introduced during Congress 119 and was introduced to the House on February 18, 2025. Bill HR 1430's most recent activity was Referred to the House Committee on Financial Services. as of February 18, 2025
Bipartisan Support of Bill HR 1430
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 1430
Primary Policy Focus
Finance and Financial SectorAlternate Title(s) of Bill HR 1430
To amend the Federal Reserve Act to limit the ability of Federal Reserve banks to issue central bank digital currency.
To amend the Federal Reserve Act to limit the ability of Federal Reserve banks to issue central bank digital currency.
Comments

Annalise Day
1,255
1 year ago
Excited for the new bill!

Elia Spivey
1,004
1 year ago
I don't really understand this bill about the Federal Reserve and digital currency. It seems like it could limit things, but I'm not sure how exactly. I just know that I don't like the idea of restricting what the Federal Reserve can do. It might affect me in some way, but I'm not sure how. #confused #notsure
Sponsors and Cosponsors of HR 1430
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