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US Republican lawmakers are calling for a permanent ban on a US central bank digital currency in a housing bill.
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On May 19, according to Cointelegraph, US Republican lawmakers are calling for a permanent ban on a US central bank digital currency (CBDC) in the upcoming House of Representatives vote on the "21st Century Housing Act." Representative Mike Flood stated that the House amendment aims to overturn the "implicit green light" for CBDCs and make the ban permanent. If the bill passes the House, it will return to the Senate and may be further revised. Representative Warren Davidson supports a permanent ban, believing that a 2030 expiration date is equivalent to giving CBDCs a pre-launch development period. House Majority Whip Tom Emmer is also pushing his "No CBDC Surveillance State Act," which passed the House last July but has not yet been approved by the Senate. Emmer warned that if the US adopts a CBDC, privacy and economic freedom will cease to exist.