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The U.S. House of Representatives Financial Services Committee Will Approve an Amendment Bill to Ban the Application and Testing of Unapproved CBDC

According to reports, Patrick McHenry, chairman of the U.S. House Financial Services Committee, will approve two amended bills that prohibit the application and testing of unauthorized CBDC. One of the bills is the Digital Dollar Pilot Program Prevention Act, which prohibits the Federal Reserve from launching a CBDC pilot program without congressional approval.

The second legislation is an amendment to the Federal Reserve Act, which prohibits the Federal Reserve from directly providing certain products or services to individuals and prohibits the use of CBDC for monetary policy and other purposes. (Cointelegraph)

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