Congressional Democrats plot path forward on digital dollar while they have the majority

Quick Take

  • As midterms loom in Congress, Democrats have become increasingly vocal about pushing forward on a digital dollar.
  • A proposal from Congressman Jim Himes last week honed in on the core parameters of a CBDC.

As the clock ticks on the current Congress, Democrats have become increasingly vocal about pushing forward on a digital dollar.

A proposal from Congressman Jim Himes last week is thus far the most concrete effort to do so — establishing core principles and parameters for a CBDC.

That proposal remains, however, a white paper rather than a bill. As Himes described it to The Block, “We put a marker down in terms of general objectives.”

Himes sits on the House Financial Services Committee, chairing the subcommittee on National Security, International Development, and Monetary Policy. The approval of full committee chair Maxine Waters will be critical to