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

“It’s going to hold the US behind different nations, 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 know-how, which has been embraced by different nations. The laws, she mentioned, would “stifle that analysis and forestall us from shifting ahead, even when it signifies that the greenback loses its standing because the world’s reserve foreign money and even when it signifies that U.S. residents lose out on sooner, cheaper and easier funds.”