PANews reported on September 18 that according to Cointelegraph, the U.S. House of Representatives Financial Services Committee is advancing legislation aimed at preventing central banks from issuing digital currencies (CBDC). According to an announcement from Chairman Patrick McHenry, the committee will take final consideration of two bills regarding a potential digital dollar on September 20. The first bill is the Digital Dollar Pilot Prevention Act (HR 3712), which prohibits the Federal Reserve from launching a pilot program to test CBDC without congressional approval. The bill was introduced in May by Rep. Alex Mooney. The second legislation is an amendment to the Federal Reserve Act that prohibits Federal Reserve banks from providing certain products or services directly to individuals and prohibits the use of CBDC for monetary policy and other purposes.

Golden Finance reports that the U.S. House of Representatives Financial Services Committee is advancing legislation aimed at preventing central banks from issuing digital currencies. According to an announcement from Chairman Patrick McHenry, the committee will take up two bills regarding a potential digital dollar on September 20. Markup is a meeting where lawmakers discuss the details of a bill. This is a critical step before the legislation reaches the House of Representatives. One bill is the Digital Dollar Pilot Prevention Act (H.R. 3712), which prohibits the Federal Reserve from launching a pilot program to test a CBDC without congressional approval. The bill was introduced in May by Rep. Alex Mooney. The second piece of legislation is an amendment to the Federal Reserve Act that prohibits Federal Reserve Banks from providing certain products or services directly to individuals and prohibits the use of CBDC for monetary policy and other purposes.

According to PANews news on May 31, according to Blockworks, U.S. Representative Alex Mooney proposed the "Digital Dollar Pilot Prevention Act" last Thursday, which aims to prevent the launch of central bank digital currency or similar government-issued tokens. “Central bank digital currencies will threaten the freedom of law-abiding Americans and are currently being used by authoritarian states to suppress dissent,” Mooney said in a statement on Thursday. Mooney’s bill has the support of 14 co-sponsors, all Republicans. Members, this is mainly because they are opposed to central bank digital currencies because of their concerns about the lack of privacy. Additionally, lawmakers in the U.S. Congress launched a bipartisan effort last week to provide more transparency about the extent to which cryptocurrencies are being used in drug trafficking on the dark web. Rep. Chris Pappas of New Hampshire and Rep. Tony Gonzales of Texas introduced the Dark Web Interdiction Act on Monday, while Sen. Maggie Hassan of New Hampshire and Sen. John Cornyn of Texas A similar bill has been filed in the Senate. The bills seek to increase penalties for the trafficking of controlled substances on the dark web and direct the attorney general to submit a report to Congress on the role of cryptocurrencies in drug trafficking on the dark web, which will detail which agents Cryptocurrencies are most commonly used and how to determine the identity of individuals using cryptocurrencies.