Anti-CBDC Bills Advance in Congress

The Breakdown

Blockworks

Business, Investing

4.8 • 806 Ratings

🗓️ 18 September 2023

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

One of the more surprising campaign issues of the 2024 election cycle, opposition to central bank digital currencies, is moving forward in Congress as two bills head for markup this week in the House Financial Services Committee. Also enforcement actions around new the new regulation regime in Hong Kong and Gemini files a response to DCG's-Genesis bankruptcy resolution proposal from last week. Enjoying this content? SUBSCRIBE to the Podcast: https://pod.link/1438693620 Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto Subscribe to the newsletter: https://breakdown.beehiiv.com/ Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.3	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:18.3	What's going on, guys? It is Monday, September 18th, and today we are talking about anti-CBDC legislation being advanced.
0:26.5	Before we get into that, however, if you are enjoying the breakdown, please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper into the conversation, come join us on the Breakers Discord.
0:35.6	You can find a link in the show notes or go to bit.ly.ly slash breakdown pod.
0:39.2	Hello, friends.
0:39.8	Happy Monday.
0:40.4	Welcome to another week, another frankly, weirdly quiet week right now.
0:45.9	I don't know.
0:46.4	There's something out there.
0:47.4	There's some bad juju.
0:49.2	I guess it could just be another example of this weird period of the cycle that we're in
0:52.7	that's sort of past the worst, but definitely before the good stuff starts again. But I'm not sure. It feels ominous for some
0:59.5	reason. But we are not going to dwell on that. Instead, we are going to hop, skip and jump through
1:03.7	a number of things that have happened over the last few days, kicking it off with what has become
1:08.6	a surprising political issue this election cycle,
1:12.0	which is central bank digital currencies.
1:14.5	The House Financial Services Committee will hold a markup section on Wednesday,
1:18.4	which will include two bills aimed at preventing the issuance of a U.S. CBDC.
1:22.1	The first bill is Tom Emmer's CBDC Anti-surveillance State Act,
1:26.4	which would prevent the Federal Reserve from
1:28.0	offering any products or services directly to individuals. Fed branches would also be prohibited
	...

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