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The regulators around the world are after crypto regulations and the U.S. seems one step ahead.
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CBDCs do not have correlations with cryptocurrencies, yet the legislators are seeking legislation for it.
Given the increased scrutiny, cryptocurrencies are struggling to find their way in the United States. Recent developments in the legislation indicate that CBDCs are about to face the burns of the same heat generated by regulatory actions. Two legislation are supposed to enter the discussion that is likely to make an impact on the journey ahead of central bank digital currency (CBDC) in the U.S.
The agency responsible for overwatching banking along with other economic sectors, the United States House Financial Services Committee is reported to be moving forward with the legislation related to CBDC issuance prevention.
Agency’s chair Patrick McHencry announced that the two said bills will be witnessing markup by the committee. The session on the
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