Republican Lawmaker Proposes Adding 'Permanent Ban on CBDC' Provision to '21st Century Housing Development Act'

BlockBeats News, May 19th, Republican lawmakers in the United States are pushing to include a "Permanent Ban on Central Bank Digital Currency (CBDC)" provision in the "21st Century ROAD to Housing Act." The House of Representatives is expected to vote on it this week.

Republicans have long opposed the issuance of a retail digital dollar by the Federal Reserve, arguing that CBDC could expand government surveillance of financial transactions and threaten individual privacy and the banking system's architecture.