House Blocks Federal Digital Dollar Initiative

The U.S. House of Representatives passed the CBDC Anti-Surveillance State Act, reflecting a significant shift in the digital assets landscape as both the Biden administration and former President Trump show increased acceptance of cryptocurrencies. The bill, backed by Republicans, faced sparse attendance and criticism over its drafting, but it highlights growing concerns over CBDCs potentially threatening financial freedom. Concurrently, the Financial Innovation and Technology for the 21st Century Act was also passed, despite opposition from President Biden. These developments come as Europe prepares to introduce its own digital currency, the Digital Euro.