Republican opposition to CBDC could hold up housing affordability bill

Republicans in the US House of Representatives have threatened the future of an affordable housing bill if it doesn’t include an outright ban on CBDCs.

Republicans in the US Congress want to ban any possibility of a central bank digital currency (CBDC). To do so, they’re threatening progress on a bipartisan housing bill.

A group of Republican members of the US House of Representatives wrote a letter dated March 6, expressing the “dire need to prohibit a Central Bank Digital Currency from ever happening in the United States.”

The letter cited familiar arguments claiming a CBDC would threaten financial privacy and grant the US Federal Reserve unprecedented financial surveillance powers.

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