Part 6/10:
The bill calls for quarterly disclosures to Congress regarding any pilot programs or findings related to digital currency initiatives. This increased transparency allows lawmakers to stay informed about developments and assess potential risks or benefits.
Wholesale versus Retail CBDC: Clarifying the Scope
An important aspect of the bill is its focus on retail CBDC—the digital dollar designed for everyday transactions by consumers. Notably, there is no mention of wholesale CBDC, which is intended for interbank transactions and international settlements. This distinction suggests that the proposed legislation aims to restrict consumer-facing digital currencies while possibly leaving open the development of wholesale or cross-border CBDC frameworks.