House of Representatives approved law prohibiting the FED from issuing a CBDC

The US House of Representatives passed a bill prohibiting the FED from issuing a CBDC, or digital dollar

The US House of Representatives passed the State CBDC Anti-Surveillance Act, which prohibits the FED from issuing a digital currency. The bill obtained 216 votes in favor and 192 against.

The main objective of this law is to prevent the digital dollar from being used as a tool that violates civil rights.

State CBDC Anti-Surveillance Law managed to pass the vote with majority support. In the opinion of some congressmen, “this type of tools could be used by the government as a surveillance mechanism, which could escalate and become a weapon to undermine political dissent.”

Since 2023, the possibility of issuing a CBDC has been discussed in the United States. Regarding the approval of the CBDC State Anti-Surveillance Law, FED President Jerome Powell indicated that “the issuance of a digital dollar would be something that would be done through the banking system, so it would not be something similar to the creation of an account for each resident of the country.”

M.Pino

Source: diariobitcoin

(Reference image source: Joshua Sukoff in Unsplash)

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