Is the legislative branch the correct place to discuss CBDC? (Reporting via onceatraveler)
issued in March. The House members claimed the “appropriate place for the discussion” on legislation concerning a central bank digital currency would be in the U.S. legislative branch rather than the federal executive department.
“The House Committee on Financial Services [...] has spent considerable time and resources examining both the potential risks and benefits of a CBDC,” said the letter. “The Committee’s review has included analyzing whether the Federal Reserve has the authority to issue a CBDC without authorizing legislation. Committee Republicans emphasized in our CBDC principles that the Federal Reserve does not have the legal authority to issue a CBDC absent action from Congress.
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