Investment bank TD Cowen: The Republican Party's push for anti-CBDC legislation may undermine support for stablecoin legislation

ChainCatcher news, according to a report by TheBlock, an investment bank TD Cowen's latest report states that last year, the "CBDC Anti-Surveillance State Act" proposed by House Majority Whip Tom Emmer may be voted on alongside the highly anticipated stablecoin bill, which could undermine bipartisan support for the stablecoin bill, as Democrats generally believe that the value of central bank-issued cryptocurrencies should at least be explored. Bipartisan leadership has been negotiating for years to reach an agreement on the stablecoin bill.

Previously, Federal Reserve Chairman Powell stated that the central bank is "nowhere near" proposing or adopting a CBDC.