GOP hardliners vexed as defense bill advances without CBDC ban

Jesse Coghlan 2 minutes ago GOP hardliners vexed as defense bill advances without CBDC ban Conservatives in the Republican Party are frustrated that a promised CBDC ban didn't make it into a must-pass defense bill that’s now on its way to the Senate. Listen 0:00 News COINTELEGRAPH IN YOUR SOCIAL FEED A group of Republicans has called foul after the US House passed a massive defense spending bill on Wednesday, which omitted a ban on central bank digital currencies (CBDC) despite promises it would be included. “Conservatives were promised — explicitly — that strong anti-Central Bank Digital Currency (CBDC) language would be included in the National Defense Authorization Act (NDAA). That promise was broken,” GOP Representative Keith Self wrote to X on Wednesday. The House voted 312-112 to pass the NDAA on Wednesday, sending the $900 billion annual military funding bill to the Senate in a bid to have it passed before the end of the year. Self had filed an amendment on Tuesday to include a CBDC ban, which had been removed from the bill, but it failed to advance and did not see a vote on the House floor. Self said a group of Republicans was “assured that anti-CBDC language would be included. Instead, we have been forced into a take-it-or-leave-it bill that breaks that promise. Without that language, I’m inclined to leave it.” Source: Keith Self The more than 3,000-page bill is considered must-pass legislation and typically sees non-defense-related amendments that could otherwise be stalled or heavily revised if passed as standalone bills. In July, House Republican leaders cut a deal with a group of party hardliners to put a CBDC ban in the defense spending bill after the group refused to move forward with three crypto bills unless a CBDC ban was guaranteed. The bills had been held up in a record-long nine-hour procedural vote and included the stablecoin-regulating GENIUS Act, which President Donald Trump had pressured the GOP to quickly pass. Related: Does GENIUS turn stablecoin issuers into stealth buyers of US debt? GOP Representative Marjorie Taylor Greene slammed Speaker Mike Johnson on Monday for not keeping his promise of a CBDC ban, adding she supports crypto but “will never support giving the government the ability to turn off your ability to have full control of your money and to buy and sell.” An early House version of the bill shared in August had included a CBDC ban , before it was subjected to amendments via multiple markups and committees. The language of the provision banned the Federal Reserve from testing, studying, developing or issuing any digital currency or asset. It would have also stopped the central bank from offering financial products or services directly to individuals. In July, the House passed a bill banning CBDCs, the Anti-CBDC Surveillance State Act, with a slim vote of 219-210, which has stalled in the Senate. Self said he would “fight on in the next must-pass bill to ensure a CBDC never sees the light of day. Financial freedom isn’t negotiable.” Legal Panel: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight # CBDC # Regulation # Policy Add reaction