House passes crypto currency restriction

[The Evil Dr. Longshadow]

If it passes the Senate and is signed by Trump, the Federal Reserve would have to scrub its plan to issue its own version of cryptocurrency.

 

https://www.congress.gov/bill/118th-congress/house-bill/5403/text

[Top Gun]

If only you still had your silver. 

[Insipid]

inb4themerge

[Raptorpat]

This is not a cryptocurrency restriction, this is a restriction on regulating cryptocurrency.

[The Evil Dr. Longshadow]

1 hour ago, Top Gun said:

If only you still had your silver. 

Actually, this isn't good news at all for the prices of gold or silver.

[discolé monade]

how would you know? you don't even know what the vote was about. 

lol

moron. 

[1pooh4u]

AI quick breakdown of bill 5403 passed by the 118th Congress 

H.R. 5403, also known as the "CBDC Anti-Surveillance State Act," is a bill introduced in the 118th Congress. Its primary purpose is to restrict the Federal Reserve's ability to issue a central bank digital currency (CBDC) and to prevent the government from using such a currency for surveillance or control over individual financial transactions.
Specifically, the bill aims to:
 * Prohibit Federal Reserve banks from offering products or services directly to individuals, maintaining individual accounts, or issuing a central bank digital currency (digital dollar) directly or indirectly to individuals.
 * Prohibit the Board of Governors of the Federal Reserve System and the Federal Open Market Committee from using any central bank digital currency to implement monetary policy.
 * Prohibit the Department of the Treasury from directing the Federal Reserve to issue a central bank digital currency.
The bill's proponents argue that a CBDC, if implemented without explicit congressional authorization and proper privacy protections, could threaten Americans' financial privacy and lead to a "surveillance state" similar to what they claim exists in China. They emphasize the importance of open, permissionless, and private currency.
H.R. 5403 has passed the House of Representatives and has been referred to the Senate Committee on Banking, Housing, and Urban Affairs.
 

[PenguinBoss]

47 minutes ago, Raptorpat said:

This is not a cryptocurrency restriction, this is a restriction on regulating cryptocurrency.

C'mon, he's trying.

[1pooh4u]

1 hour ago, Raptorpat said:

This is not a cryptocurrency restriction, this is a restriction on regulating cryptocurrency.

It does prevent the federal reserve bank from issuing its own cryptocurrency(without congressional approval or further legislation)  He got that part right. Probably by accident. 

Edited Saturday at 06:43 PM by 1pooh4u

[The Evil Dr. Longshadow]

3 minutes ago, PenguinBoss said:

C'mon, he's trying.

Did I just get something new and different over here?  Pooh just said something that makes sense.

[naraku360]

11 minutes ago, PenguinBoss said:

C'mon, he's trying.

Is she?

[PenguinBoss]

I take it back. He quoted me thinking I'm Pooh, again.

[SwimOdin]

1 hour ago, Raptorpat said:

This is not a cryptocurrency restriction, this is a restriction on regulating cryptocurrency.

Literally LOL

[The Evil Dr. Longshadow]

1 minute ago, SwimOdin said:

You got it completely wrong, but at least you tried to make an actual current event thread. If I could give you a lollipop, I would.

How did I get any part of it wrong?  The restriction in question is that the Federal Reserve can't be involved with it in any way, including issuing its own version.

[discolé monade]

prove it. 

*with proper quantitative finance analytical graphs. 

Edited Sunday at 03:15 PM by discolé monade
damn mean bumpy machine

[Raptorpat]

2 hours ago, The Evil Dr. Longshadow said:

How did I get any part of it wrong?  The restriction in question is that the Federal Reserve can't be involved with it in any way, including issuing its own version.

4 hours ago, Raptorpat said:

This is not a cryptocurrency restriction, this is a restriction on regulating cryptocurrency.

 

[1pooh4u]

1 hour ago, Raptorpat said:

 

You better stop before you explode his brain 

[naraku360]

1 hour ago, 1pooh4u said:

You better stop before you explode his brain 

That's literally nothing to worry about.

[lupin_bebop]

This isn’t…….you know what? I’m just gonna let the stupid boomerang and hit you in your own ass

[MasqueradeOverture]

"I WILL FUCKING EAT POOP"

- Packard

[naraku360]

7 hours ago, MasqueradeOverture said:

"I WILL FUCK POOP"

- Packard