#USGOPSeeksPermanentCBDCBan
The Current Legal and Legislative Position on the Bill
House of Representatives: The Republican party successfully passed the bill (H.R. 1919) with a majority vote. The law stipulates that the Federal Reserve is prohibited from issuing a digital currency (digital dollar) directly or indirectly to individuals, to prevent it from turning into a commercial bank that monitors citizens' financial data.
Senate and Compromises: The Senate passed similar provisions that ban the issuance of digital currency until the end of 2030 or 2031 after being integrated into other bills (such as housing and defense legislation).
The Current Legal and Legislative Position on the Bill
House of Representatives: The Republican party successfully passed the bill (H.R. 1919) with a majority vote. The law stipulates that the Federal Reserve is prohibited from issuing a digital currency (digital dollar) directly or indirectly to individuals, to prevent it from turning into a commercial bank that monitors citizens' financial data.
Senate and Compromises: The Senate passed similar provisions that ban the issuance of digital currency until the end of 2030 or 2031 after being integrated into other bills (such as housing and defense legislation).