1. United States
2. Ala.
3. Letter

This bill is deeply concerning as it would prohibit the Federal Reserve from exploring the potential benefits of a central bank digital currency (CBDC). A CBDC could enhance financial inclusion, improve payment efficiency, and maintain the dollar's status as the world's reserve currency in an increasingly digital economy. While data privacy is important, this bill takes an extreme approach by completely banning any form of CBDC. A more balanced approach that allows responsible development and testing of a CBDC with robust privacy protections would be preferable. I urge you to oppose this bill and instead pursue a path that keeps the U.S. at the forefront of financial innovation while upholding key civil liberties.