According to a report by CoinDesk, the US House of Representatives has passed a bill along party lines to prevent the Federal Reserve from issuing a central bank digital currency (CBDC). The “CBDC Anti-Monitoring Nation Act,” proposed by Majority Whip Tom Emmer, seeks to prevent the US central bank from continuing its efforts in developing a digital dollar, as Republicans express concerns that a US CBDC could be used to control Americans.
During the debate before the vote on Thursday the 23rd, Democratic representatives argued that these concerns were exaggerated and that the ban would hinder innovation and research in the public sector. A total of 213 Republicans and 3 Democrats voted in favor of the bill, while 192 Democrats opposed it, a stark contrast to the previous day’s vote on the “21st Century Financial Innovation and Technology Act” (FIT21).
Related report: “US Presidential Candidate Trump Pledges Strong Resistance to CBDC: I Will Protect the People from Government Tyranny!”
