US Republicans push for permanent ban on Fed CBDC

Republican lawmakers in the U.S. are pushing to permanently ban the Federal Reserve from issuing a central bank digital currency (CBDC), Cointelegraph reported. The provision is included in an amendment to the ‘21st Century Housing Roadmap Act,’ which is scheduled for a vote in the House of Representatives this week. While a Senate version of the bill proposed banning CBDC issuance until the end of 2030, the House amendment removes this deadline to make the prohibition permanent. U.S. Representative Tom Emmer, a Republican, argued that a Fed-issued CBDC must be completely banned, warning that it could become a tool for the government to monitor and control citizens' financial activities.