US House of Representatives Passes Bill Prohibiting Federal Reserve from Creating Central Bank Digital Currency

According to Odaily, the US House of Representatives has passed a bill that prevents the Federal Reserve from creating a Central Bank Digital Currency (CBDC). This move comes amidst the growing global interest in digital currencies and their potential impact on traditional financial systems. The bill, if signed into law, would effectively bar the US central bank from entering the digital currency space, a sector that has seen significant growth and innovation in recent years. This decision could have far-reaching implications for the future of digital currencies in the United States and could potentially influence the stance of other countries on this issue. It is important to note that this bill still needs to be approved by the Senate and signed by the President to become law. The outcome of these next steps could significantly shape the future of digital currencies in the United States.