Did the US Just Ban CBDCs? Here’s What Happened and Why $BEST Gains
In a surprising move, the U.S. House of Representatives has slipped a provision to ban central bank digital currencies (CBDC) into a massive, 1,300-page defense policy bill.
This new legislative move, a revision of the House’s version of the National Defense Authorization Act (NDAA), aims to stop the Federal Reserve from ‘testing, studying, developing, creating, or implementing’ a digital currency.
The House has already passed a similar bill, the ‘Anti-CBDC Surveillance State Act,’ but its future in the Senate is really shaky. Putting it in the NDAA is a smart way to try and guarantee it becomes law.
Read on for the full context and Best Wallet’s simplified self-custody app for crypto and Web3.
D.C. Drama: How a Crypto Ban Hijacked a Defense Bill
The decision to add the CBDC ban to the defense bill was the result of some serious political bargaining. Recent GOP infighting had stalled three crypto bills.
Some Republican hard-liners wanted a guarantee that a CBDC ban would be included in the must-pass military spending legislation.
This led to a nine-hour standoff, the longest in House history, that only ended when House Majority Leader Steve Scalise promised to include the CBDC ban in the NDAA.
This new provision would not only stop the Fed from issuing digital currency but also prevent it from offering financial services directly to people.
The bill does, however, make an important exception for stablecoins, defining them as ‘open, permissionless, and private’ digital currencies.
This latest move shows just how determined House Republicans are to stop a CBDC from ever seeing the light of day.
If the ban on CBDCs comes to fruition, then freedom-first and user-control-first solutions like Best Wallet should flourish, bringing increased attention to Best Wallet Token ($BEST), one of the best crypto presales this year.
Best Wallet Token ($BEST): Governance Crypto, DeFi Upgrade, and a 15M+ Presale
Best Wallet Token ($BEST) has a booming crypto presale. And its Best Wallet project is already live and running, nearly halfway through its extensive roadmap.
The initial success of $BEST speaks for itself, with the first $100K stage selling out in just six hours after the ICO launched. Fast forward to today, and the presale has raised over $15M from early adopters.
The hype is real, and so are the incentives. Investors aren’t just funding the future of a fully-fledged DeFi ecosystem. Holding the $BEST token ensures direct holder benefits within Best Wallet:
- Reduced transaction fees,
- Governance rights regarding future upgrades and integrations,
- Higher staking rewards within the staking aggregator (coming in Phase 3).
With a goal to capture 40% of the crypto wallet market by 2026, and a product roadmap spanning a retail debit card, NFT integrations, and MEV-protected derivatives trading, the $BEST project is perfectly positioned for future success.
Visit the Best Wallet Token presale for details.
Best Wallet App Levels Up Crypto Custody and Trading
If you’re tired of clunky, outdated crypto wallet apps that make managing your digital assets a hassle, Best Wallet promises a solution.
It’s one of the leading non-custodial crypto wallets out there and the first of a new generation designed to challenge the status quo.
Unlike older crypto wallets, Best Wallet offers a streamlined, user-friendly interface combined with a suite of advanced, exclusive features. You get everything under one hood:
- Multi-chain support (soon to include 60+ chains, beyond just Bitcoin, Solana, Ethereum, and BSC),
- DeFi features like DEX swaps and third-party Ethereum staking,
- An ‘Upcoming Tokens’ feature for early access to the hottest presale projects.
This versatility is one of the reasons we feel it’s the best crypto wallet right now.
The ‘Upcoming Tokens’ feature is especially unique and gives you the opportunity to get the best prices and highest ROI, especially if you stake.
It also helps eliminate the risk of scams and copycat sites, giving you direct, secure access to vetted pre-market opportunities.
With cutting-edge security powered by Fireblocks MPC-CMP wallet technology, you can also be confident that your keys are protected against hacks.
This isn’t just a wallet; it’s a complete Web3 management platform that puts you in control.
Join the $BEST presale to unlock all wallet benefits.
Your Crypto, Your Control: Why This Matters
With the future of a U.S. central bank digital currency hanging in the balance, the stage is set for a major shift in the digital finance world.
The move to ban a CBDC through must-pass legislation shows that some lawmakers really want to protect financial privacy and stop what they see as a potential government surveillance tool.
As this political drama unfolds, people are paying more attention to private user-first solutions.
This whole debate just proves how important it is for you to do your own research and understand the tech and politics that will shape your financial future.
This article isn’t financial advice. The crypto market is volatile and provides no guarantees.
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