House GOP moves to combine central bank digital currency ban with crypto bill

House Republicans are gearing up to retroactively combine GOP legislation that would ban the Federal Reserve from creating a central bank digital currency with a sweeping bipartisan cryptocurrency market structure bill after both bills passed the chamber separately in July.

The House is set to vote Tuesday afternoon on a procedural measure that includes a little-noticed provision that would combine the CBDC ban bill with the CLARITY Act, which would overhaul how crypto tokens are regulated. The CBDC measure, led by House Majority Whip Tom Emmer (R-Minn.), passed the lower chamber largely along party lines in July, while the sweeping market structure bill drew support from 78 Democrats.

At the time the two measures passed the House, Republicans on the Financial Services and Agriculture committees objected to combining them on the floor. A push from GOP hard-liners to merge the two bills created a protracted standoff on the floor. The committee leaders didn’t want to jeopardize bipartisan support for the CLARITY Act in hopes of sending a message about its viability in the Senate.

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