House Republicans Explore Legislation for Central Bank Currency
DOJ should assess whether legislation is necessary for a central bank digital currency in the U.S. (see 2203090072), Republicans on the House Financial Services Committee wrote Attorney General Merrick Garland Wednesday. They requested an assessment and any related legislative proposal…
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by Oct. 15, in a letter led by ranking member Patrick McHenry, R-N.C., citing President Joe Biden’s executive order on the matter: “The appropriate place for the discussion on whether authorizing legislation is necessary, is in the legislative branch. ... Both Federal Reserve Chairman Powell and Vice Chair Lael Brainard have also testified on the need for authorizing legislation.”