TD Cowen says Congress likely getting closer to permanently banning a Fed CBDC

TD Cowen believes Congress is moving closer to permanently banning a Federal Reserve Central Bank Digital Currency (CBDC). This potential ban would benefit stablecoin issuers but could complicate the passage of the Clarity Act.

• →TD Cowen expects Congress to move toward permanently banning a Fed CBDC
• →A CBDC ban would create competitive advantages for private stablecoin issuers
• →The potential ban could create legislative obstacles for passing the Clarity Act
• →The development represents a shift in regulatory approach toward digital currencies
• →Investment banks are positioning for changes in the digital currency regulatory landscape