🚨NEW: Many of the House members who voted no today had concerns with the GENIUS Act possibly enabling a CBDC. However, there is language in GENIUS that would explicitly prohibit the Fed from creating a retail CBDC. The section below says the bill shall not be construed as expanding the Fed’s authority to offer services directly to the public — meaning it cannot authorize things like digital wallets, personal accounts, or anything that veers into CBDC territory.