GOP Pushes Forward Bills Aimed At Banning CBDC: 'Cast It Into The Fire'
Portfolio Pulse from Benzinga Neuro
The Republican party is pushing for legislation to prevent the launch of a Central Bank Digital Currency (CBDC) in the United States. The House Financial Services Committee debated three bills aimed at limiting the Federal Reserve's power to create a CBDC. Concerns around the CBDC include its potential impact on traditional banking and the risk of it outcompeting the stablecoin market. Democrats, however, are advocating for continued research into the CBDC. Bitcoin (CRYPTO: BTC) was trading at $26,584, up 1.32% in the last 24 hours.
September 15, 2023 | 8:04 am
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NEUTRAL IMPACT
The debate over the introduction of a Central Bank Digital Currency (CBDC) in the US could impact the price of Bitcoin. The current uncertainty may lead to increased volatility.
The introduction of a CBDC in the US could potentially impact the price of Bitcoin. If a CBDC is introduced, it could provide a government-backed alternative to Bitcoin, potentially reducing demand for Bitcoin. However, the current uncertainty and debate over the issue could lead to increased volatility in the Bitcoin market.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 75