House Republicans Push Bill to Restrict Federal Reserve's Digital Currency Plans

24.05.24 News

House Republicans are set to pass a bill preventing the Federal Reserve from implementing a central bank digital currency (CBDC) without congressional approval. Sponsored by House Majority Whip Tom Emmer, the CBDC Anti-Surveillance State Act aims to address privacy concerns. While likely to pass in the Republican-majority House with some bipartisan support, the bill faces challenges in the Democratic-controlled Senate and requires President Biden’s approval to become law.

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