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Rep. Keith Self Pushes CBDC Ban as Defense Bill Nears House Vote

Key Takeaways

  • ​The US House is moving forward with the NDAA, but a dispute has arisen over excluding a CBDC ban;
  • Rep. Keith Self proposed an amendment to block the Fed from creating or testing a digital dollar;
  • The “Anti-CBDC Surveillance State” plan protects privacy for digital assets that act like cash.

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Rep. Keith Self Pushes CBDC Ban as Defense Bill Nears House Vote

The US House is preparing to advance its annual National Defense Authorization Act (NDAA), which outlines military spending and policy for the coming year.

However, a debate has emerged over whether the bill should include language to prevent a central bank digital currency (CBDC).

On December 7, House Republicans released the 3,000-page bill without the CBDC restriction that Speaker Mike Johnson reportedly agreed to include.

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On December 9, Rep. Keith Self of Texas submitted an amendment to restore the missing language. His proposal, called the “Anti-CBDC Surveillance State” amendment, would stop the Federal Reserve from creating, testing, or operating a digital version of the US dollar.

Self stated in a post on X, "Conservatives were promised that language banning a Central Bank Digital Currency (CBDC) would be included in the must-pass National Defense Authorization Act (NDAA)".

According to Politico, House Republican leaders are aiming to pass the defense package by December 10. The NDAA is considered a must-pass measure that funds the Department of Defense each year.

The amendment also makes room for digital assets that function more like traditional cash. It explicitly allows "dollar-denominated currency that is open, permissionless, and private", to ensure users can still transact with the same level of privacy offered by physical money.

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Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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