Congress moving closer to permanently banning Fed CBDC, TD Cowen says

TD Cowen reports that Congress is likely advancing toward a permanent ban on a Federal Reserve-issued central bank digital currency. Such a move could benefit stablecoin issuers by removing competition from an official digital dollar, but the investment bank warns it may complicate efforts to pass the Clarity Act, which aims to clarify cryptocurrency regulatory frameworks. The potential friction between CBDC opposition and broader crypto legislation could delay regulatory clarity in the digital assets space.