EXECUTIVE SUMMARY
US lawmakers have passed major financial legislation to standardize physical cash-rounding guidelines and prohibit retail central bank digital currencies.
WASHINGTON— The House of Representatives has passed key financial legislation aimed at modernizing domestic payment systems, establishing national cash-rounding guidelines, and setting formal boundaries around federal digital currency authorities.
The votes address two distinct operational challenges in the financial ecosystem: managing the physical cash supply amid the retirement of the penny, and regulating the future of digital transactions.