On Thursday, the US House of Representatives voted to prohibit the Federal Reserve from directly issuing central bank digital currency (CBDC) to citizens. The CBDC Anti-Surveillance State Act was supported by 213 Republicans and 3 Democrats, for a final vote of 262 in favor to 192 against.
The bill, introduced by cryptocurrency advocate Tom Emmer (R-MN), became the third cryptocurrency-related legislation approved by Congress this month. Unlike Bitcoin, CBDCs are controlled and issued by a central bank and are either backed by or used as a substitute for a country's fiat currency.
On Wednesday, the House also passed the Financial Innovation and Technology for the 21st Century (FIT21) bill, which sets clear rules for how cryptocurrencies and cryptocurrency companies must register with federal market regulators.