House Approves Legislation to Block Fed from Issuing a CBDC
The House of Representatives has passed legislation prohibiting the Federal Reserve from creating a central bank digital currency, known as the “digital dollar.” Introduced by House Majority Whip Rep. Tom Emmer (R-Minn), the bill is titled the “CBDC Anti-Surveillance State Act.” This crucial amendment to the Federal Reserve Act, which governs the US central banking system, stipulates, “The Board of Governors of the Federal Reserve System and the Federal Open Market Committee may not use any central bank digital currency to implement monetary policy.”
