U.S. Legislators Seek to Prevent CBDC Rollout
On September 20, the U.S. House Financial Services Committee will review two proposed bills targeting the suspension of Central Bank Digital Currency (CBDC) development.
The first legislation, labeled HR 3712, would require the Federal Reserve to obtain approval from Congress before testing the CBDC.
The second bill aims to amend the Federal Reserve Act, prohibiting Fed banks from offering CBDCs to individuals.
The second bill aims to amend the Federal Reserve Act, prohibiting Fed banks from offering CBDCs to individuals.
