🚀The United States Congress has just passed a historic bill regarding CBDCs, but with a key twist. 💰
They approved it to ban and block the state digital dollar until 2030.
What exactly does the law prohibit?
Here are the details to know:
✅Absolute block on the Federal Reserve: The Fed and its regional banks are legally prohibited from creating, issuing, or studying a digital dollar (CBDC) or any similar digital asset directly or indirectly through financial intermediaries.
✅Deadline: The ban will be strictly in effect until December 31, 2030. Even after that date, the Fed won't be able to lift a finger on this front unless it receives explicit authorization signed by Congress.
On the other hand, it's worth noting that private cryptocurrencies and stablecoins are safe.
✅The law explicitly clarifies that the prohibition does not affect private stablecoins (like Circle's USDC or Tether's USDT), as long as their networks remain open, permissionless, and private.
💡 Market Impact Analysis: With this law, the U.S. government is slamming the door in the face of a state-controlled digital competitor managed by the central bank. This solidifies a totally friendly regulatory path for the private crypto sector, leaving the control of the digitized dollar in the hands of private stablecoin issuing companies instead of the government.
$XRP
They approved it to ban and block the state digital dollar until 2030.
What exactly does the law prohibit?
Here are the details to know:
✅Absolute block on the Federal Reserve: The Fed and its regional banks are legally prohibited from creating, issuing, or studying a digital dollar (CBDC) or any similar digital asset directly or indirectly through financial intermediaries.
✅Deadline: The ban will be strictly in effect until December 31, 2030. Even after that date, the Fed won't be able to lift a finger on this front unless it receives explicit authorization signed by Congress.
On the other hand, it's worth noting that private cryptocurrencies and stablecoins are safe.
✅The law explicitly clarifies that the prohibition does not affect private stablecoins (like Circle's USDC or Tether's USDT), as long as their networks remain open, permissionless, and private.
💡 Market Impact Analysis: With this law, the U.S. government is slamming the door in the face of a state-controlled digital competitor managed by the central bank. This solidifies a totally friendly regulatory path for the private crypto sector, leaving the control of the digitized dollar in the hands of private stablecoin issuing companies instead of the government.
$XRP