U.S. Lawmaker Proposes CBDC Ban Amendment to NDAA Amid Surveillance Concerns

Rep. Keith Self has introduced an amendment to the National Defense Authorization Act (NDAA) seeking to prohibit the development and implementation of a Central Bank Digital Currency (CBDC) by the Federal Reserve. The MOVE follows allegations of unfulfilled promises regarding earlier legislative efforts to curb CBDC initiatives.

The proposed amendment, titled "Anti-CBDC Surveillance State," aims to block the Federal Reserve from creating or testing any digital asset resembling a CBDC, even if labeled differently. It also restricts Federal Reserve banks from offering direct financial services to individuals, framing the issue as a privacy safeguard against government overreach.

The amendment was submitted ahead of a critical House Rules Committee meeting determining whether the NDAA will proceed to a full vote. Self's action underscores growing political resistance to CBDCs in the U.S., with implications for the broader digital asset landscape.