Permanent CBDC Ban Act
To permanently prohibit the Board of Governors of the Federal Reserve System or a Federal reserve bank from issuing or creating a central bank digital currency, and for other purposes.
This bill aims to permanently stop the Federal Reserve from creating a digital version of our currency, often called a central bank digital currency (CBDC). It would affect the Federal Reserve System and anyone who uses or interacts with the nation's currency by ensuring that the Federal Reserve does not issue a digital form of money.
The bill has been introduced in the House and has been referred to the House Committee on Financial Services for further review. As of now, it is in its very early stages and has not yet been discussed or voted on by the full House. This means there is still a long way to go before any action is taken on this bill.
So far, the bill has been introduced and referred to the relevant committee. Future steps will include committee discussions, potential amendments, and votes in both the House and the Senate if it passes the House. Citizens interested in the outcome should stay tuned to updates from their representatives and the legislative process.
