anti-cbdc

ChainCatcher news, encrypted journalist Eleanor Terrett posted on the X platform stating that according to the voting schedule released by House Majority Leader Steve Scalise, the U.S. House of Representatives will hold a procedural vote this afternoon local time to determine the terms for floor debate on the GENIUS, CLARITY, and Anti-CBDC bills.These three bills were previously reviewed by the Rules Committee yesterday, and the final vote may take place tomorrow or Thursday.

ChainCatcher news, according to The Block, the U.S. House Financial Services Committee passed the "Anti-CBDC Surveillance State Act" (H.R. 1919) with 27 votes in favor and 22 against. The bill was introduced by Republican House Majority Whip Tom Emmer and aims to prevent central bank digital currencies from being used for monetary policy and prohibits the Federal Reserve from providing financial services directly to individuals.Emmer stated that the bill ensures that U.S. digital currency policy is in the hands of the American people rather than the executive branch. This move echoes the executive order signed by President Trump in January this year to protect American citizens from the threats posed by CBDCs. At the same time, the committee also advanced stablecoin regulatory legislation to establish a framework for dollar-pegged stablecoins to enhance their global competitiveness.

ChainCatcher news, according to Bitcoin Magazine, U.S. Congressman Emmer revealed that House Republicans will pass his proposed anti-CBDC bill this week. Emmer stated, "The concept of central bank digital currency is not only alarming, it is downright contrary to the spirit of America."

ChainCatcher news, House representatives are preparing to vote on two major pieces of cryptocurrency legislation. The "Financial Innovation and Technology Act of the 21st Century" (FIT), initiated by Republican representatives, and an anti-Central Bank Digital Currency (CBDC) bill will be submitted in the last week of May.The 21st Century FIT Act, also known as HR 4763, aims to create a regulatory framework around the cryptocurrency industry. It proposes to allocate oversight responsibilities between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).The anti-CBDC bill, named HR 1122, was introduced by Majority Whip Tom Emmer and aims to prohibit the Federal Reserve from issuing digital currency to consumers. Emmer criticized privacy concerns and government surveillance, arguing that the digital yuan would only exacerbate these issues.

ChainCatcher news, according to a report by TheBlock, an investment bank TD Cowen's latest report states that last year, the "CBDC Anti-Surveillance State Act" proposed by House Majority Whip Tom Emmer may be voted on alongside the highly anticipated stablecoin bill, which could undermine bipartisan support for the stablecoin bill, as Democrats generally believe that the value of central bank-issued cryptocurrencies should at least be explored. Bipartisan leadership has been negotiating for years to reach an agreement on the stablecoin bill.Previously, Federal Reserve Chairman Powell stated that the central bank is "nowhere near" proposing or adopting a CBDC.