US House Committee greenlights CBDC anti-surveillance act which prevents American banks from issuing central bank digital currencies
The United States House Committee on Financial Services has recently approved the "CBDC Anti-Surveillance State Act." This act prohibits the Federal Reserve from issuing a Central Bank Digital Currency (CBDC), a digitised form of the fiat currency operating on Digital Ledger Technology (DLT).
Rep. Patrick McHenry, the committee's chair, stated that the Bill would ensure that any US CBDC gets explicitly authorised by the Congress. He stressed the importance of safeguarding American citizens' privacy and the financial system's integrity in facing potential CBDC-related risks.