The U.S. House of Representatives will review a retroactive ban on central bank digital currencies (CBDC) in the market structure bill.

CN
5 hours ago

The U.S. House of Representatives is expected to pass the market structure bill from July, which provides a faster legislative pathway for banning the Federal Reserve from issuing Central Bank Digital Currency (CBDC).

During a hearing of the House Rules Committee on Monday, the agenda draft indicated that the text of the "Anti-CBDC Surveillance National Act"—which was also narrowly passed by the House in July—would be added to the "Digital Asset Market Clarity Act."

If processed as a consolidated bill, the CBDC legislation will be included in the final version of the existing market structure bill and submitted to the Senate for review.

House Republicans had also considered a similar move before the full House vote on the GENIUS payment stablecoin regulation bill in July. Some lawmakers wanted to explicitly include a CBDC ban in the stablecoin bill before the vote, which slowed the bill's progress before the House's August recess. Ultimately, all three bills were passed with support from some members of both parties.

It is currently unclear whether the combination of the market structure bill and the CBDC ban will affect the Senate's legislative process.

Republicans on the Senate Banking Committee stated that their market structure bill is based on the CLARITY Act but uses the independent title "Responsible Financial Innovation Act."

Wyoming Senator Cynthia Lummis, one of the main supporters of the market structure bill, indicated that the Banking Committee plans to pass the bill by the end of September, with U.S. President Trump expected to sign it into law before 2026. The Banking Committee has not yet scheduled a vote on the bill.

Although Republicans control both the House and the Senate, the slim majorities in both chambers mean that passing legislation, including the market structure bill, may require support from some Democratic members.

Both bipartisan proposals call for updating regulatory requirements to provide a clearer regulatory framework for the digital asset industry. However, Democrats are urging the inclusion of provisions to address what they describe as the Trump family's actions that "undermine confidence in the broader digital asset industry," referring to the Trump family's involvement in cryptocurrency businesses.

It is currently unclear whether Republicans plan to address the Trump family's connections to the industry through their family mining company American Bitcoin, World Liberty Financial, and their personal meme coins in the bill. The bill is expected to be submitted to the committee for a vote within two weeks.

Related: Bitcoin (BTC) may break $120,000 on Wednesday—Analysis of the reasons

Original: “U.S. House to Consider Retroactive CBDC Ban in Market Structure Bill”

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