Lawmakers also approved a bill regulating payment stablecoins, setting up the legislation for a full House vote.“Last Congress, this bill passed out of the House of Representatives by a 216-192 vote,” said Minnesota Representative Tom Emmer, the anti-CBDC bill’s sponsor.“So far this Congress, this bill has 114 cosponsors and support from groups ranging from the Independent Community Bankers Association and the American Bankers Association to Club for Growth, Heritage Action, and the Blockchain Association.”Related: Crypto regulation must go through Congress for lasting change — Wiley NickelMany Republican lawmakers have warned institutions such as the Federal Reserve and the Treasury Department away from exploring CBDC development, often citing financial privacy concerns.
The US House Financial Services Committee advanced a bill aimed at preventing federal banks from using or issuing central bank digital currencies, or CBDCs, paving the way for a vote in the chamber.
It’s unclear whether the anti-CBDC bill will have the votes in the House and Senate to be passed to Trump’s desk to sign into law.
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Author / Journalist: Cointelegraph by Turner Wright
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