US lawmakers request Justice Dept share CBDC assessment

Republican members of the House Financial Services Committee have requested the Department of Justice provide its assessment and legislative proposals around a digital dollar within ten days.

In an Oct. 5 letter addressed to U.S. Attorney General Merrick Garland, 11 Republican lawmakers asked the Justice Department for a copy of its “assessment of whether legislative changes would be necessary to issue a CBDC,” as required by President Joe Biden’s executive order on digital assets from March. The House members claimed the “appropriate place for the discussion” on legislation concerning a central bank digital currency would be in the U.S. legislative branch rather than the federal executive department.

“The House Committee on Financial Services has spent considerable time and resources examining both the potential risks and benefits of a CBDC,” said the letter. “The C