Republican lawmakers call for permanent CBDC ban as House vote approaches

Tom Emmer, the House majority whip, is also advocating for his Anti-CBDC Surveillance State Act, which has passed the House but has yet to pass the Senate.

A pair of Republican lawmakers is calling for a permanent ban on a US central bank digital currency (CBDC) to be enshrined in the 21st Century ROAD to Housing Act, as the measure is expected to come up for a vote in the US House this week. 

The bill released by the US Senate Committee on Banking, Housing and Urban Affairs in March mainly concerns revisions to federal housing programs but also includes a section banning the Federal Reserve System or any Federal Reserve bank from issuing a CBDC or similar instrument until Dec. 31, 2030.

The US House has created its own amended bill, which Congressman Mike Flood said reverses the “backdoor green light for a CBDC” and aims to make the ban permanent.

Read more