The ongoing tussle over the potential introduction of a central bank digital currency (CBDC) by the Federal Reserve heats up in the U.S. House Financial Services Committee. Maxine Waters, (D-CA). a key figure in the group of lawmakers wrangling over cryptocurrency policy, has taken aim at a bill recently reintroduced by Rep. Tom Emmer (R-MN) designed to forbid the Federal Reserve System from issuing a CBDC.
Waters, who previously chaired the Committee, expressed her reservations over the partisan nature of the bill, which she suggested will stifle innovation and keep the United States trailing behind other countries. She lamented:
“Unfortunately, Republicans are marking up one bill that is not bipartisan. It will keep the United States behind other countries, including China, as they race forward to develop a global standard for central bank digital currencies… At this point, nobody fully understands the potential benefits and challenges of CBDCs, or how their implementation could
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