No CBDC Act

# No CBDC Act Summary **What It Does:** This bill would prevent the Federal Reserve, U.S. Treasury Department, and other federal agencies from creating or using a central bank digital currency (CBDC)—essentially a digital version of U.S. dollars issued and controlled by the government. If passed, it would ban the government from developing, testing, or implementing such a currency system. **Who It Affects:** The bill primarily affects federal financial agencies and potentially future monetary policy.

It could impact any future plans the government might have had to modernize currency systems, but would have limited direct effects on average Americans' current banking or spending since no CBDC currently exists in the U.S. **Current Status:** The bill is currently in committee (HR 1430, introduced in the 119th Congress by Rep. Andrew Ogles of Tennessee). This means it has not yet been voted on by the full House and remains in the early legislative stage. The bill reflects ongoing political debate about whether governments should develop digital currencies, with some concerned about privacy and government control, while others see potential benefits for modernizing the financial system.