The House Financial Services Committee last week passed a bill that would stop the Federal Reserve from working on a central bank digital currency, giving the full House a chance to consider the legislation.
The bill would amend the Federal Reserve Act to prohibit Federal Reserve-supervised banks from issuing “a central bank digital currency, or any digital asset that is substantially similar under any other name or label, directly to an individual,” according to the text of that proposed bill, H.R. 5403.
