To amend the Federal Reserve Act to limit the ability of Federal Reserve banks to issue central bank digital currency.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To amend the Federal Reserve Act to limit the ability of Federal Reserve banks to issue central bank digital currency., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Immigration, Government Operations.
Who Benefits and How
financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section S1: 1. Short title This Act may be cited as the No Central Bank Digital Currency Act or the No CBDC Act.
- Section id6B85E88FD6BD414A973A17E510450A7D: 2. Central bank digital currency Section 13 of the Federal Reserve Act is amended by adding after the 14th undesignated paragraph (12 U.S.C. 347d) the...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To amend the Federal Reserve Act to limit the ability of Federal Reserve banks to issue central bank digital currency., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Immigration, Government Operations
Primary Purpose
This bill, To amend the Federal Reserve Act to limit the ability of Federal Reserve banks to issue central bank digital currency., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
- financial institutions, investors, and borrowers
Identified Costs
- federal implementing agencies
- financial institutions, investors, and borrowers
Sponsors
Mike Lee
R-UT | Primary Sponsor
Legislative Progress
IntroducedMr. Lee (for himself, Mr. Cruz, and Mr. Scott of …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "secretary_of_treasury"
- → Secretary of the Treasury
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology