Republicans on the House Financial Services Committee asked the Justice Department to share an opinion on the CBDC.
Member of the Committee Patrick McHenry, RN.C., Rep. French Hill, R-Arc. and other members sent a letter to Attorney General Merrick Garland questioning their views on whether the legislation was appropriate for the CBDC.
Republicans Ask for Opinion
The letter, sent by Republicans, comes weeks after the Biden administration released a series of digital asset reports examining CBDCs. President Biden’s executive order was asking the Justice Department to determine whether legislation was necessary to issue a CBDC.
The letter from Republicans on the House of Representatives Financial Services Committee included the following statements:
Other attorneys signing the letter include GOP Representatives Ted Budd, RN.C., Bill Huizenga, R-Wisc., Ann Wagner, R-Mo. and Tom Emmer, R-Minn. Attorneys requested the Department of Justice to give its opinion on the CBDC by October 15.