U.S. Legislative Branch ‘Appropriate Place for the Discussion’: GOP
CoinEdition
Published Oct 06, 2022 06:31AM ET
Updated Oct 06, 2022 07:00AM ET
U.S. Legislative Branch ‘Appropriate Place for the Discussion’: GOP
- Republican members write a letter to the U.S Department of Justice.
- The letter seeks to find out whether the legislation needs amendments to adopt CBDC.
- The appropriate place for discussion on whether authorizing legislation is necessary is in the legislative branch, states the letter.
On October 5, Republican members, referred to as GOP (Grand Old Party) of the U.S. House Financial Services Committee, wrote a letter to the U.S Department of Justice requesting a copy of the assessment it issued on Ensuring Responsible Development of Digital Assets.
Moreover, the letter addressed to U.S. Attorney General Merrick Garland seeks to find whether the legislation would need any amendment to adopt Central Bank Digital Currencies (CBDC) as per the existing Executive Order.
As per the letter, the Supreme court has given the authority to Congress to regulate each phase of currency. Given this scenario, the Republicans think Congress may charter banks and grant them the rights to issue circulating notes, which could restrain the circulation of notes not issued under its authority.
Finally, the letter signed by eleven republicans concludes by giving the Department of Justice a time span of ten days to provide the department’s assessment.
The post U.S. Legislative Branch ‘Appropriate Place for the Discussion’: GOP appeared first on Coin Edition.
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