Federal Reserve vs. Congress: The Battle for Digital Currency Control in the U.S.

Federal Reserve vs. Congress: The Battle for Digital Currency Control in the U.S.



The U.S. House Financial Services Committee is currently taking steps to slow down the development of a currency issued by the U.S. Bank. Chairman Patrick McHenry recently announced that on September 20th the committee will be discussing two bills specifically related to the concept of a dollar. These discussions, referred to as markups will involve lawmakers and regulators fine tuning the details of the bills before they are voted upon on the House floor.



One of these bills, known as H.R. 3712 or the Digital Dollar Pilot Prevention Act aims to limit the Federal Reserves authority in initiating trial programs for a currency without obtaining approval, from Congress. This bill was introduced by Representative Alex Mooney back in May.



While it is important to note that the Federal Reserve has not made a decision regarding issuing a


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#Adoption, #Altcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Ethereum, #Regulations

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