The U.S. House of Representatives has passed an amendment to the National Defense Authorization Act (NDAA) that bars the Federal Reserve from developing or launching a central bank digital currency (CBDC). This provision, part of a critical 'must-pass' bill, seeks to halt any CBDC-related activities by the Fed, including testing and research. However, the amendment permits the ongoing development of stablecoins that are 'open, permissionless, and private.' The measure now awaits consideration by the Senate.