Digital Currency Intelligence & Analysis
Comprehensive reporting, investigative dispatches, and geopolitical analysis for the Digital Currency beat.
Analysis: Central Bank Digital Currencies and the Future of Financial Sovereignty
U.S. Legislative Backlash and State-Level Nullification The domestic push toward digital currency has generated substantial political resistance, leading to a coordinated legislative counter-offensive at both the federal and state levels. In Congress, House Majority Whip Tom Elmer (R-MN) introduced the CBDC Anti-Surveillance State Act (H.R. 5403). The legislation, which passed the House Financial Services Committee in September 2023 and received full House approval in May 2024, explicitly prohibits the Federal Reserve from offering retail financial services directly to individuals and bars the central bank from using a CBDC to implement monetary policy.