Is The Bill "ECASH Act" Crypto Friendly?

This bill, the ECASH Act, directs the Treasury to develop and pilot a privacy-respecting electronic version of the U.S. dollar, referred to as "e-cash." It emphasizes replicating the anonymity and minimal data generation of physical cash, allowing for direct public ownership and peer-to-peer offline transactions. The bill explicitly distinguishes this e-cash from central bank digital currencies (CBDCs) that may compromise privacy and establishes an Electronic Currency Innovation Program and a Monetary Privacy Board to oversee its development and ensure privacy protections.