Digital Dollar Prevention Act: Congressional Approval Required
This act aims to prevent the Federal Reserve from testing or issuing a digital currency unless explicitly authorized by Congress. This means that without the approval of citizens' representatives, a digital dollar will not be introduced, impacting the future of money in the U.S.
Key points
The Federal Reserve cannot test or issue a central bank digital currency without Congressional approval.
A central bank digital currency is a digital form of money directly backed by the Federal Reserve.
Status:
Expired
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