House Blocks Federal Digital Dollar Development in Major Blow to CBDC Vision

A significant development has shaken the landscape of US digital currency policy. The House of Representatives recently blocked the development of a federal digital dollar through a crucial amendment to the National Defense Authorization Act (NDAA). This action, while seemingly a technical hurdle, signals a major shift in how Americans view the future of money. By prohibiting the Federal Reserve from engaging in any CBDC activities, Congress is making it clear they are skeptical of government-backed digital currency and are prioritizing alternative financial models.