Crypto Community Welcomes Passage of Law Preventing the Launch of CBDCs in the U.S.

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Table of Contents


  • The U.S. House of Representatives passed two important bills regarding cryptocurrencies and financial privacy.
  • The CBDC Anti-Surveillance State Act prevents the Federal Reserve from issuing a CBDC without Congressional approval.
  • The community reacted positively, but concerns persist about the future of stablecoins and legal conflicts, such as the Ripple case.

The U.S. House of Representatives has approved two significant bills related to the issuance of digital currencies by the Federal Reserve and the protection of financial privacy.

The first of these bills, known as the CBDC Anti-Surveillance State Act, was passed with a vote of 216-192. This legislation prevents the Federal Reserve from issuing a central bank digital currency (CBDC) without explicit authorization from Congress. The approval of this bill reflects concerns, primarily among Republicans, about potential government abuse regarding tracking citizens’ financial transactions and restricting politically unpopular activities.

The second approved bill, the CBDC Anti-Surveillance Act, aims to amend the Federal Reserve Act to prevent CBDCs from being used for monetary policy or direct consumer services.

This legislation seeks to ensure that the development of digital currencies upholds American principles of privacy and individual autonomy. The bill received bipartisan support, with 165 Republican cosponsors.

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The Crypto Community Celebrates and Looks to the Future

The crypto community has reacted positively to the approval of these bills. This is a significant step forward in protecting financial privacy and recognizing the importance of preserving individual freedoms in the digital age. Furthermore, it is seen as recognition of the increasingly relevant role that the crypto industry plays in the U.S. economy and society.

However, concerns have also arisen regarding the stability and future of stablecoins, especially after the recent legal conflicts involving Ripple (XRP) and its upcoming stablecoin. Although the approval of these bills represents a necessary step for the crypto industry as a whole, it remains to be seen how they will be developed and implemented in practice.

The United States has moved in the right direction. However, there is still much ground to cover if the nation aims to position itself as a standard-bearer of financial freedom. There are still many conflicts to resolve.


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