The "No Central Bank Digital Currency Act" seeks to amend the Federal Reserve Act, imposing significant limitations on the ability of Federal Reserve banks and other government entities to engage with central bank digital currencies (CBDCs). This bill specifically prohibits the Federal Reserve, the Treasury, and related agencies from minting or issuing a CBDC directly to individuals , whether directly or through custodial or digital currency intermediaries. Furthermore, the legislation prevents these entities from offering CBDC-related products or services directly to individuals or maintaining any individual accounts for such currencies. It also explicitly states that Federal Reserve banks may not hold U.S. government-issued digital currencies as assets or liabilities on their balance sheets, nor can they utilize them to meet statutory obligations.