The US House of Representatives banned the Fed from issuing digital currencies.

The US House of Representatives made an important decision in May 2024 and passed a bill banning the Federal Reserve (Fed) from issuing central bank digital money (CBDC).

The bill was introduced by Republican Party member Tom Emmer and echoed the concerns of members of Congress. These concerns include the possibility that #CBDC could be used to track American citizens and the risk that such a ban would stifle innovation in the public sector.

In the voting, the majority of Republican Party members supported the bill, while 3 Democratic Party members voted yes for the ban. The bill was accepted with a total of 216 votes.

However, for the law to come into force, it must also pass the Senate. Experts predict that the anti-CBDC bill will face a difficult process in the Senate and is unlikely to be accepted.

$BTC