Does Dan Bishop Support Crypto?

FIT21

Financial Innovation and Technology for the 21st Century Act

Final Passage Out Of House

SAB 121 House Joint Resolution

For congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Staff Accounting Bulletin No. 121". This staff accounting bulletin expresses the views of the staff regarding the accounting for obligations to safeguard crypto-assets an entity holds for platform users.

Final Passage Out Of House

Cease Orwellian Surveillance and Targeting Act of 2023

This bill, titled the "Cease Orwellian Surveillance and Targeting Act of 2023," seeks to amend the Federal Reserve Act. It explicitly prohibits the Federal Reserve Board of Governors and Federal Reserve banks from minting or issuing a central bank digital currency (CBDC). The bill also prevents Federal Reserve banks from offering products or services, including direct provision of currency or account maintenance, to individuals or entities, with specific exceptions for financial institutions and government bodies. Furthermore, it prohibits any person from holding or owning CBDCs, whether domestic or foreign.

Expressing the sense of the House of Representatives that the Board of Governors of the Federal Reserve System and the Federal Open Market Committee should not be permitted to develop, create, or implement a central bank digital currency, or use any such tool to implement monetary policy.

This resolution expresses the sense of the House of Representatives that the Federal Reserve should not develop, create, or implement a central bank digital currency (CBDC) or use it for monetary policy. The bill cites concerns that CBDCs could lead to dystopian state surveillance, increased government control over payments, financial censorship, and the undermining of free speech and financial independence, drawing comparisons to China's digital yuan and Canada's response to protests.