House Committee Approves CBDC Anti-Surveillance State Act Amid Privacy Concerns

According to ShibDaily, the House Committee on Financial Services, chaired by French Hill (AR-02), has approved the CBDC Anti-Surveillance State Act along with other significant legislation during a full committee markup session. The CBDC Anti-Surveillance State Act narrowly passed with a 27-22 vote, aiming to prevent the Federal Reserve from issuing a digital dollar due to concerns over financial surveillance and the central bank's potential role as a retail banking entity. The bill prohibits the Federal Reserve System from deploying a Central Bank Digital Currency (CBDC) through intermediaries and restricts the use of digital currency for monetary policy purposes. Rep source: https://www.binance.com/en/square/post/22468124826506?utm_source=BinanceNewsRSS