No CBDC Act

This bill prohibits the Federal Reserve, Treasury Department, and other federal agencies from creating or distributing a central bank digital currency (CBDC) directly to individuals or maintaining accounts for individuals using CBDCs. It explicitly bans any federal entity from minting, issuing, offering CBDC-related services, or holding CBDCs as assets on their balance sheets. The bill directly affects federal financial institutions and prevents them from developing or implementing a government-run digital currency system.