As per Coinotag, a Republican-led amendment to the National Defense Authorization Act (NDAA) aims to prohibit the development of a U.S. central bank digital currency (CBDC), addressing concerns over privacy and government surveillance. The amendment, introduced by Rep. Keith Self, bars the Federal Reserve from creating or implementing CBDCs, with exceptions for open, permissionless digital dollars that maintain cash-like privacy protections. The move fulfills a prior commitment to conservatives, who had raised concerns over potential government overreach in financial systems. The NDAA is set for passage amid bipartisan negotiations.
Republican CBDC Ban Amendment Restored in NDAA Amid Privacy Concerns
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