Jeopardizing the existing bill could represent a heavy blow to Congress, in which both parties had embraced the housing effort, but it’s also a potential setback to the anti-CBDC forces. While the U.S. wasn’t poised to issue a CBDC any time soon, the idea to ban such a digital dollar was strongly supported by a crypto industry looking forward to the bill’s four-year prohibition that extends to the end of 2030.
Republican politicians have argued that a digital dollar managed by the Federal Reserve could be used to spy on the finances of citizens. And Trump signed an executive order last year banning any U.S. moves toward a CBDC, which he argued would “threaten the stability of the financial system, individual privacy, and the sovereignty of the United States.”
And if Trump delays Congress with this latest dispute, that could also have dangerous timing implications for the Digital Asset Market Clarity Act — the crypto industry’s central aim for the dwindling congressional session. The Senate calendar only has about five weeks remaining before Congress’ summer break, giving the industry and its allies little time to iron out the remaining wrinkles in the crypto market structure bill and get it on the Senate floor for a vote. The process can’t afford any further significant delays if the Clarity Act is to become law in 2026.
Powered by WPeMatico
