U.S. House Passes Bill Blocking Federal Digital Currency

The U.S. House of Representatives voted to block the Federal Reserve from creating a central bank digital currency (CBDC), advancing legislation backed by Rep. Tom Emmer. The Anti-CBDC Surveillance State Act, with Republican support, aims to prevent government-issued digital money while protecting financial privacy. This move impacts CBDC innovation and may increase favor for decentralized cryptocurrencies like Bitcoin.