The U.S. House of Representatives Financial Services Committee will approve an amendment bill to ban the application and testing of unapproved CBDC

Odaily News Patrick McHenry, Chairman of the U.S. House of Representatives Financial Services Committee, will approve two amendment bills to prohibit the application and testing of unapproved CBDC. One of the bills is the Digital Dollar Pilot Prevention Act, which prohibits the Federal Reserve from launching a pilot program for a CBDC without congressional approval. The second piece of legislation is an amendment to the Federal Reserve Act that prohibits federal banks from providing certain products or services directly to individuals, as well as prohibiting the use of CBDC for monetary policy and other purposes. (Cointelegraph)