The US Congress has reached a bipartisan agreement to advance new legislation that includes a major measure for the crypto ecosystem: a ban on the Federal Reserve issuing a central bank digital currency (CBDC) directly to citizens, thus protecting financial privacy.
This landmark measure has been incorporated into a far-reaching housing legislation package. The restriction explicitly prohibits the Federal Reserve from developing and launching a retail digital dollar until 2030, addressing growing concerns about government surveillance and control of personal financial transactions.
Several lawmakers and influential figures in the cryptocurrency industry have applauded the agreement, arguing that a centralized CBDC poses a risk of authoritarian financial control. On the other hand, proponents of the digital currency argue that this decision could reduce the US's competitiveness against powers like China, which is already actively implementing its digital yuan.
As the project moves forward to its final vote, the crypto ecosystem is celebrating a temporary victory that will define the course of monetary sovereignty and user privacy in the United States for the next decade.
Investing in cryptoassets is not fully regulated, may not be suitable for retail investors due to high volatility and there is a risk of losing all invested amounts.
