(CBDCs), World Map

The bill is now referred to the House of Representatives for a vote. And Republican leaders in the House plan to set a voting date as soon as the House returns from its recess. After that, the bill is sent to the President for signature to become law.
The current administration has expressed strong opposition to central bank digital currencies. Last month, Treasury Secretary Scott Bessent stated that CBDCs are completely excluded, and that the administration will instead focus on passing the CLARITY Act, a separate legislation related to digital assets.

While other countries are heading in the opposite direction, 26 financial institutions have joined the cross-border electronic payment platform in Chinese yuan, according to Reuters.
Three countries have officially launched central bank digital currencies. Forty-one countries are in the pilot phase, 33 countries are in development, while 40 countries are still exploring the idea, according to the Atlantic Council.