U.S. CBDC Efforts Opposed in Legislation Advanced by House Republicans

“It’s going to maintain the USA behind different international locations, together with China, as a race ahead to develop a worldwide commonplace for central financial institution digital currencies,” Waters mentioned, accusing Republicans of taking a “deeply anti-innovation stance” on the expertise, which has been embraced by different nations. The laws, she mentioned, would “stifle that analysis and stop us from transferring ahead, even when it implies that the greenback loses its standing because the world’s reserve forex and even when it implies that U.S. residents lose out on sooner, cheaper and less complicated funds.”