US House of Representatives pass Republican-led anti-CBDC bill along partisan lines
Powered by @unfolded- The US House of Representatives passed a Republican-led bill blocking the issuance of a central bank digital currency (CBDC) by a vote of 216 to 192.
- The CBDC Anti-Surveillance State Act was introduced by Rep. Tom Emmer in September 2023 and aims to prevent the Federal Reserve Bank from issuing a CBDC to individuals.
- The bill received criticism from Democrats, with House Financial Services Committee Ranking Democrat Maxine Waters calling it "anti-innovation."
- The Federal Reserve has stated that it is not currently considering adopting a CBDC and that if it were to do so, it would be done through the banking system.