A defense spending bill passed by the US House did not include a ban on central bank digital currencies, despite promises made. The bill, totaling $900 billion, was sent to the Senate for approval. Republican Representative Keith Self expressed disappointment after his amendment for the ban was removed and not voted on.
The massive bill is considered crucial legislation and typically includes non-defense-related amendments. In July, House Republican leaders agreed to include a CBDC ban in the bill to appease party hardliners who were delaying other crypto bills. The bill also included the GENIUS Act, which regulates stablecoins and was pushed by former President Trump.
GOP Representative Marjorie Taylor Greene criticized Speaker Mike Johnson for breaking the promise of a CBDC ban. She supports crypto but opposes giving the government control over people’s money. An earlier version of the bill had initially included a ban on CBDCs, but it was removed during the amendment process.
The provision in the bill would have prevented the Federal Reserve from working on digital currencies or offering financial services directly to individuals. The House had previously passed a bill banning CBDCs with a narrow vote, which has not progressed in the Senate. Representative Self vowed to continue fighting against CBDCs in future legislation.
Read more at CoinTelegraph: House Passes Defense Bill Without Promised CBDC Ban
