Section 1 Short title
This Act may be cited as the “No Digital Dollar Act”.
No Digital Dollar Act
A BILL
To amend the Federal Reserve Act to prohibit the Board of Governors of the Federal Reserve System from discontinuing Federal Reserve notes if a central bank digital currency is issued, and for other purposes.
Sec. 2 Central bank digital currency
Federal Reserve notes— Section 16 of the Federal Reserve Act is amended by adding after the 17th undesignated paragraph (12 U.S.C. 467) the following:
“The Board of Governors may not discontinue issuing Federal Reserve notes if a central bank digital currency is issued.”
Coins— Section 5112 of title 31, United States Code, is amended by adding at the end the following:
“(aa) Central bank digital currency—The Secretary of the Treasury may not discontinue minting and issuing coins under this section if a central bank digital currency is issued.”
Not legal tender— No central bank digital currency shall be considered legal tender under section 5103 of title 31, United States Code.