US House to consider retroactive CBDC ban in market structure bill

The House Rules Committee could add the CBDC bill to the final version of the market structure bill, but may not impact the Senate's own version of the legislation.

The US House of Representatives may have a shorter legislative path to bar the Federal Reserve from issuing a central bank digital currency (CBDC) by using a market structure bill it passed in July.

In a Monday hearing of the House Rules Committee, a draft agenda showed a proposal to add the text of the Anti-CBDC Surveillance State Act — also passed by the chamber in July, albeit by a narrow margin — to the Digital Asset Market Clarity Act.

The engrossment method would add the CBDC bill to the final version of the existing market structure bill sent to the Senate for consideration.

Read more