U.S. Senators Reintroduce Bill To Ban Federal Digital Currency

According to Foresight News, U.S. Senator Mike Lee has reintroduced the 'No CBDC Act,' a bill aimed at permanently preventing the Federal Reserve from supporting a central bank digital currency (CBDC). The legislation has garnered the backing of Senators Ted Cruz and Rick Scott. This initiative follows a significant executive order by U.S. President Donald Trump, which also sought to prohibit CBDCs. The proposed bill intends to ensure that the Federal Reserve is restricted from issuing, holding, or utilizing any form of CBDC.