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The six senators who voted against the March digital dollar ban: Johnson, Lee, Murphy, Scott, Tuberville, and Van Hollen

CryptoSlate
Six senators voted against advancing a banking package containing a temporary ban on the Federal Reserve issuing a CBDC.

Summary

On March 2, the Senate voted 84-6 to proceed with H.R. 6644, a broad housing and banking package that included a provision barring the Federal Reserve from issuing a Central Bank Digital Currency (CBDC) until the end of 2030. The six senators who voted no were Ron Johnson, Mike Lee, Chris Murphy, Rick Scott, Tommy Tuberville, and Chris Van Hollen. This vote was procedural, meaning it only advanced the larger package, not necessarily endorsing the anti-CBDC language specifically, as the bill also contained numerous housing and affordability measures. However, the vote brought the CBDC debate to the center of Senate floor discussions regarding privacy and federal reach. The anti-CBDC language defines a CBDC and prohibits the Fed from issuing one directly or indirectly until the end of 2030. This action is notable because the Federal Reserve has publicly stated it has made no decision on issuing a CBDC and requires explicit authorization from Congress and the executive branch to proceed. The move suggests Congress is attempting to set ground rules early, which could shift focus toward private-sector digital dollar rails like stablecoins.

(Source:CryptoSlate)