The U.S. House Financial Services Committee has approved a bill limiting Federal Reserve initiatives for creating a digital currency.
Passage of the Anti-CBDC Act
On April 3, 2025, the U.S. House Financial Services Committee voted 27-22 in favor of the **Anti-CBDC Surveillance State Act**. The bill, led by Tom Emmer, aims to prevent the Federal Reserve from creating a digital currency.
Market Impact and Financial Innovation
The bill may have significant implications for the privacy and innovation debates in the financial sector, potentially boosting interest in decentralized digital currencies and challenging U.S. financial strategies. Emmer stated that the bill safeguards against potential misuse similar to systems in China, highlighting privacy concerns and arguing: "If not designed to be open, permissionless, and private—like cash—a government-issued CBDC is nothing more than an Orwellian surveillance tool."
Current Crypto Market Trends
According to CoinMarketCap, Bitcoin's current price is $83,099.07, with a market capitalization of $1,649,175,036,627.48. The cryptocurrency recorded price declines of -2.06% over 24 hours and -4.46% across 7 days. Trading volumes increased by 92.39%, reaching $53,886,350,334.90.
The passed bill reflects growing debates surrounding privacy and innovation in the financial sector, with certain repercussions for cryptocurrencies like Bitcoin.
