US Lawmakers To Review Bill on Preventing Creation of CBDC This Week - The Daily Hodl
US lawmakers are reviewing a bill this week that would prevent the Federal Reserve from carrying out experiments related to the use of a central bank digital currency (CBDC)....
- US lawmakers are reviewing a bill, the "Digital Dollar Pilot Prevention Act," that aims to prevent the Federal Reserve from conducting experiments related to a central bank digital currency (CBDC).
- The bill, introduced by Congressman Alex X. Mooney, seeks to close a loophole that would allow the Federal Reserve to run a pilot program for testing the feasibility of issuing a CBDC.
- Representative Patrick McHenry, Chairman of the House Financial Services Committee, announced a markup on the bill and other legislation.
- Mooney argues that CBDCs could threaten the liberties of law-abiding Americans and are being used by authoritarian countries to suppress dissent.
- House Majority Whip Tom Emmer is also reintroducing the "CBDC Anti-Surveillance State Act," which aims to prohibit the Fed from issuing a retail CBDC while promoting innovation and the development of true digital cash.
The sentiment of the article is mostly negative, as it highlights concerns about the potential negative impact of CBDCs on individual liberties and the use of CBDCs by authoritarian countries.