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Digital Dollar
A crypto-related bill meant to stifle a future U.S. central bank digital currency is now heading toward consideration on the floor of the U.S. House of Representatives after committee approval Wednesday, marking further progress for digital assets legislation in Congress.
The idea of a digital dollar in the U.S. is so egregious to Republican lawmakers that it’s become a presidential campaign talking point and the subject of multiple bills to strangle it before it takes a first breath. But Rep. Stephen Lynch (D-Mass.) reintroduced a bill Thursday calling for the exact thing they’re trying to stop.
The U.S. is far from making any decision on a central bank digital currency (CBDC), said Federal Reserve Vice Chairman Michael Barr, who described the Fed as still being in the “basic research” phase.
The U.S. state’s House of Representatives voted 118-0 to pass an amended version of a bill that initially sought to ban crypto payments.