Central bank digital currencies, or CBDCs, have the potential to radically transform the American financial system. They are no longer merely academic musings. Rather, CBDCs have gained the attention of politicians, central bankers, the tech industry, and even the broader public. Government officials, in the United States and abroad, are now actively working to implement CBDCs and solidify government control over payments systems. But this experiment should be left on the drawing board because CBDCs ultimately usurp the private sector and endanger Americans’ core freedoms. They have no place in the American economy. Congress should explicitly prohibit the Federal Reserve (the Fed) and the Department of the Treasury (Treasury) from issuing a CBDC in any form.