U.S. House Pushes to Add CBDC Ban to Market Structure Bill

HKAN | Sep 17

Lawmakers Target CBDCs in Market Structure Debate

The U.S. House of Representatives is reportedly working to add a central bank digital currency (CBDC) ban to its pending market structure bill, according to sources familiar with the discussions.

Concerns Over Privacy and Government Control

Proponents of the ban argue that a U.S. CBDC could give federal authorities excessive oversight over citizens’ financial transactions, raising concerns about surveillance and government overreach. Critics of CBDCs warn that they could undermine the role of commercial banks and disrupt financial privacy.

“CBDCs pose a risk to personal freedom and could be used to track or limit spending,” one lawmaker said during a closed-door session.

Impact on the Market Structure Bill

The market structure bill aims to establish a clearer regulatory framework for digital assets, including defining the roles of the SEC and CFTC in overseeing cryptocurrencies. The addition of a CBDC ban could significantly alter the bill’s scope and may spark debate in the Senate if it passes the House.

Next Steps

The proposal is expected to be debated in committee sessions over the coming weeks. Industry participants are closely watching the development, as a ban could influence the future of a potential U.S. digital dollar and the country’s competitiveness in global financial innovation.