House Blocks Fed’s Potential Digital Dollar: CBDC Ban Incorporated into Defense Bill

The US House of Representatives has incorporated a ban on the Federal Reserve from issuing a Central Bank Digital Currency (CBDC) into the country’s annual defense policy bill. The provision, part of the National Defense Authorization Act (NDAA), prohibits the Fed from researching, testing, or developing a digital currency. This move follows an earlier attempt to stop a potential Fed-issued CBDC, and comes in response to growing House opposition.