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politics26 days ago

Senate Eyes Short-Term FISA Fix as CBDC Clash Stalls Longer Renewal

With Section 702 expiring, the Senate is considering a roughly 45-day extension of the Foreign Intelligence Surveillance Act after House Republicans attached a longer renewal to a permanent ban on a Federal Reserve central-bank digital currency. Senate Majority Leader Thune says a 45-day fix is likely but requires all 100 senators’ support, while Sen. Wyden plans a three-week extension and declassification of the 702 opinion. The House-passed three-year extension is unlikely to clear the Senate as-is and the CBDC ban is viewed as dead on arrival there, even as lawmakers juggle farm bill and immigration funding fights that complicate the spy-power renewal.

via Politico|
#cbdc#congress#fisa
politics1 month ago

Johnson pushes three-year extension of spy law amid GOP privacy tensions

House Speaker Mike Johnson unveiled a three-year reauthorization of the Section 702 spy law with added oversight and penalties but no warrant requirements, as GOP hard-liners push for stronger privacy protections. The plan aims for a Rules Committee vote next week before the April 30 expiry, but Senate skeptics and conservatives warn the reforms may be too weak, while some Republicans consider attaching a CBDC ban and tying it to broader reconciliation on immigration and spending.

via Politico|
#cbdc#fisa#politics
politics1 month ago

FISA Split Tests GOP Resolve as DHS Funding Hangs on a Narrow Window

The House GOP faces a high-stakes deadline to extend Section 702 of FISA before April 30, or risk delaying a budget package for DHS immigration enforcement. Senate Republicans favor a three-year 702 extension and are ready to push forward, while House factions clash over privacy protections and a proposed ban on a central bank digital currency, complicating a deal with Democrats and threatening other GOP priorities like the SCORE Act and immigration funding timelines. The chaos underscores broader tensions between House and Senate Republicans as they navigate surveillance policy and national security debates.

via Politico|
#702-extension#cbdc#fisa
politics2 months ago

Senate advances bipartisan housing deal, eyes final passage as CBDC debate unfolds

The Senate cleared another hurdle for a bipartisan housing package, advancing the 21st Century ROAD to Housing Act by 89-9-1 and signaling final passage as early as Thursday. The measure blends House and Senate housing priorities with a White House-backed push to ban large institutional buyers of single-family homes, while a CBDC ban sweetener tests House support; housing-industry groups are seeking changes to build-to-rent sell requirements and to negotiate in conference to reconcile differences.

via Politico|
#build-to-rent#cbdc#housing
politics10 months ago

Crypto Legislation Stalls as GOP Infighting Continues

Republican lawmakers are in a standoff over cryptocurrency policy, with disagreements on merging a bipartisan crypto market structure bill with a CBDC ban, causing delays in the House. Meanwhile, other political developments include Sen. Tina Smith's hospitalization, immigration bill discussions, and Senate debates on funding cuts, all amidst ongoing partisan negotiations and legislative efforts.

via Politico|
#cbdc#cryptocurrency#gop
House Declares 'Crypto Week' to Advance Digital Asset Legislation
technology10 months ago

House Declares 'Crypto Week' to Advance Digital Asset Legislation

The U.S. House of Representatives has designated the week of July 14th as 'Crypto Week' to advance key legislation including the CLARITY Act, Anti-CBDC Surveillance State Act, and the Senate’s GENIUS Act, aiming to establish a clear regulatory framework for digital assets, promote innovation, and prevent the creation of a Central Bank Digital Currency to protect Americans' financial privacy.

via House Committee on Financial Services (.gov)|
#cbdc#clarity-act#crypto-week
House Blocks Federal Digital Dollar Initiative
cryptocurrency-regulation2 years ago

House Blocks Federal Digital Dollar Initiative

The U.S. House of Representatives passed the CBDC Anti-Surveillance State Act, reflecting a significant shift in the digital assets landscape as both the Biden administration and former President Trump show increased acceptance of cryptocurrencies. The bill, backed by Republicans, faced sparse attendance and criticism over its drafting, but it highlights growing concerns over CBDCs potentially threatening financial freedom. Concurrently, the Financial Innovation and Technology for the 21st Century Act was also passed, despite opposition from President Biden. These developments come as Europe prepares to introduce its own digital currency, the Digital Euro.

via AMBCrypto News|
#biden-administration#cbdc#cryptocurrency
House Blocks Federal Reserve from Creating Digital Dollar
politics2 years ago

House Blocks Federal Reserve from Creating Digital Dollar

The House passed a bill preventing the Federal Reserve from issuing a central bank digital currency (CBDC) without explicit congressional authorization, with a 216-192 vote largely along partisan lines. The bill, introduced by House Majority Whip Tom Emmer, reflects Republican concerns about potential government misuse of a CBDC, despite the Fed's lack of current plans to issue one. Democrats argue that the bill threatens U.S. dollar primacy and stifles innovation.

via The Hill|
#cbdc#digital-dollar#federal-reserve
House Passes Bill to Ban Federal Digital Dollar
politics2 years ago

House Passes Bill to Ban Federal Digital Dollar

The U.S. House passed Rep. Tom Emmer's bill to prevent the Federal Reserve from issuing a Central Bank Digital Currency (CBDC) without Congressional approval, aiming to protect American privacy and prevent government surveillance. The bill received strong Republican support and limited Democratic backing, reflecting broader debates on the role and risks of CBDCs in the U.S. financial system.

via Decrypt|
#cbdc#federal-reserve#legislation
"Trump Pledges to Halt US CBDC Creation if Reelected"
cryptocurrency-politics2 years ago

"Trump Pledges to Halt US CBDC Creation if Reelected"

Former President Donald Trump pledged to prevent the creation of a U.S. central bank digital currency (CBDC) if reelected, citing it as a threat to freedom and government control over individuals' money. This marks a shift from his previous skepticism towards cryptocurrencies as he seeks to attract pro-crypto voters, and aligns with the views of other Republican candidates, including Florida Governor Ron DeSantis, who has pledged to "end Biden's war on Bitcoin" and banned CBDCs in the state.

via Yahoo Finance|
#cbdc#cryptocurrency#cryptocurrency-politics
The Power of Governments: Controlling Purchases and Expiry Dates with CBDC
cryptocurrency2 years ago

The Power of Governments: Controlling Purchases and Expiry Dates with CBDC

Governments discussed at the World Economic Forum "Summer Davos" meeting in China the potential for programmable Central Bank Digital Currencies (CBDCs) that could have expiry dates and restrictions on certain purchases deemed undesirable by the government, such as ammunition, drugs, or pornography. While some experts see the benefits of programmability, others express concerns about the potential dangers and impact on the integrity and independence of central banks. While central banks like the European Central Bank have stated that programmability would be left to commercial banks, some countries, like India and Nigeria, are exploring programmable CBDCs with different features and limitations. Programmability remains a key feature of CBDCs, offering governments and banks control over the use and flow of digital currency.

via The Sociable|
#cbdc#central-bank-digital-currency#cryptocurrency