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CBDC Legislation Recap
Several members of Congress have introduced legislation in response to the concerns that have been voiced over central bank digital currency, or CBDC. To help keep everyone up to speed, the table and paragraphs below offer an overview of the bills that have been introduced during the 118th Congress. Introduced by Senator Mike Lee (R‑UT), the No CBDC Act would prohibit both the Federal Reserve and the Department of the Treasury from minting or issuing a retail CBDC (i.e., a CBDC that would be used directly by individuals). The bill would also prohibit intermediated CBDCs where financial institutions are enlisted to ... (full story)