This legislation, known as the "No Central Bank Digital Currency Act" , aims to significantly restrict the involvement of Federal Reserve banks and other government entities in central bank digital currency (CBDC) by amending Section 13 of the Federal Reserve Act to impose specific limitations. The bill specifically prohibits the Federal Reserve, the Treasury, and related agencies from minting or issuing CBDC directly to individuals , whether through direct means or via custodial or digital currency intermediaries. Furthermore, these entities are barred from offering any CBDC-related products or services directly to individuals or maintaining accounts on their behalf, even in specially designated accounts. Additionally, the legislation stipulates that Federal Reserve banks may not hold digital currencies issued by the United States Government as assets or liabilities on their balance sheets, nor can they use such digital currencies to fulfill requirements under Section 2A of the Federal Reserve Act.