Republicans Criticize Omission of CBDC Ban in Defense Bill
According to Cointelegraph, a group of Republican lawmakers expressed dissatisfaction after the U.S. House of Representatives passed a significant defense spending bill on Wednesday, which did not include a ban on central bank digital currencies (CBDCs) despite previous assurances. GOP Representative Keith Self voiced his concerns on Wednesday, stating that conservatives were explicitly promised that strong anti-CBDC language would be part of the National Defense Authorization Act (NDAA), a promise that was ultimately not fulfilled.
The House approved the NDAA with a 312-112 vote, advancing the $900 billion annual military funding bill to the Senate, aiming for its passage before the year's end. Representative Self had proposed an amendment on Tuesday to reinstate the CBDC ban, which had been removed from the bill. However, the amendment did not progress and was not voted on in the House. Self expressed frustration, noting that Republicans were assured of the inclusion of anti-CBDC language, but were instead presented with a take-it-or-leave-it bill that broke that promise. Without the inclusion of the language, Self indicated his reluctance to support the bill.
The extensive bill, spanning over 3,000 pages, is considered essential legislation and often includes non-defense-related amendments that might otherwise face delays or significant revisions if introduced as standalone bills. In July, House Republican leaders reached an agreement with a faction of party hardliners to incorporate a CBDC ban in the defense spending bill after the group refused to advance three crypto bills without such a guarantee. These bills, including the stablecoin-regulating GENIUS Act, were stalled in a record-long nine-hour procedural vote, with U.S. President Donald Trump urging the GOP to expedite their passage.
GOP Representative Marjorie Taylor Greene criticized Speaker Mike Johnson on Monday for not upholding the promise of a CBDC ban. Greene, a supporter of cryptocurrency, emphasized her opposition to granting the government the power to control individuals' financial autonomy. An earlier version of the bill, shared in August, had included a CBDC ban before undergoing amendments through various markups and committees. The provision's language aimed to prohibit the Federal Reserve from testing, studying, developing, or issuing any digital currency or asset, and from offering financial products or services directly to individuals.
In July, the House passed the Anti-CBDC Surveillance State Act, which banned CBDCs, with a narrow vote of 219-210, but it has since stalled in the Senate. Representative Self vowed to continue his efforts in future must-pass bills to ensure a CBDC never materializes, asserting that financial freedom is non-negotiable.
