H. R. 1430, also known as the "No Central Bank Digital Currency Act" or "No CBDC Act," seeks to restrict the actions of Federal Reserve banks concerning digital currency. The bill proposes an amendment to the Federal Reserve Act that would prevent banks from directly issuing...
Simple Explanation
The No CBDC Act wants to make sure that special banks, called Federal Reserve banks, can't give out or keep digital money like cash for people or companies. It's like saying these banks shouldn't play with digital coins as if they were toys.