According to @GOPMajorityWhip, the U.S. House passed the NDAA this week with his bill to prohibit the development of a U.S. CBDC and he called on the Senate to permanently ban CBDCs. According to @GOPMajorityWhip, any CBDC that is not open, permissionless, and private is a surveillance tool. According to the Federal Reserve’s 2022 discussion paper Money and Payments: The U.S. Dollar in the Age of Digital Transformation, a U.S. CBDC would be a digital liability of the Federal Reserve and the Fed would not proceed without clear support from the executive branch and Congress, ideally in the form of authorizing law. According to the President’s Working Group on Financial Markets’ 2021 Report on Stablecoins, dollar-denominated stablecoins are widely used in digital asset trading and payments, underscoring why U.S. policy on CBDCs is directly relevant to crypto market structure and liquidity.