US House Prohibits Fed from Issuing CBDC

Nicholas Anthony

Over a year ago, Rep. Tom Emmer (R‑MN) introduced a bill intended to prohibit the Federal Reserve from issuing a retail central bank digital currency (CBDC). Today, that bill finally made its way to the House floor where members voted to pass it to the Senate.

Why is Congress voting to restrict the powers of the Federal Reserve? As I explain in my new book, Digital Currency or Digital Control? Decoding CBDC and the Future of Money, CBDCs are not something that...