A bill to amend the Federal Reserve Act to limit the ability of Federal Reserve banks to issue central bank digital currency.

Bill 119 s 464, also known as the "Federal Reserve Digital Currency Limitation Act," is a proposed piece of legislation that aims to amend 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 introducing a CBDC, which is a form of digital currency issued by a central bank. Proponents of the bill argue that allowing Federal Reserve banks to issue CBDC could have negative consequences for the stability of the financial system and could potentially undermine the role of traditional banks in the economy.

If passed, the bill would impose limitations on the Federal Reserve's ability to create and distribute CBDC, effectively preventing them from moving forward with any plans to introduce a digital currency. This would ensure that the current financial system remains intact and that traditional banks continue to play a central role in the economy. Overall, Bill 119 s 464 represents a significant effort to regulate the development of digital currencies by central banks and to ensure that any potential risks associated with CBDC issuance are carefully considered and addressed.