Now, his Republican colleagues, including Representatives French Hill (R-AR), Warren Davidson (R-OH), Byron Donalds (R-FL), Pete Sessions (R-TX), Young Kim (R-CA), William Timmons (R-SC), Ralph Norman (R-SC), Barry Loudermilk (R-GA), Bryan Steil (R-WI), Scott Fitzgerald (R-WI), Mike Flood (R-NE), Bill Posey (R-FL), Mike Lawler (R-NY), Andy Ogles (R-TN), and Ann Wagner (R-MO), have joined him as co-sponsors. It is important to note that majority Whip Emmer introduced this bill in January 2022 to address concerns about central bank digital currency (CBDC). Wide Support for CBDC Anti-Surveillance State Act digital currency policies align with American values like privacy, individual sovereignty, and free-market competitiveness. He further stressed that the bill stops the Fed from issuing a retail CBDC and protects innovation and the potential for genuine digital cash. Emmer is committed to protecting these principles. Emmer shared this news on the social media platform X, stating, “Today, I reintroduced the CBDC Anti-Surveillance State Act with 49 of my Republican colleagues.” He emphasized the importance of ensuring that any government digital currency respects people’s financial privacy and does not empower excessive government control. The act would prohibit "the Federal Reserve from issuing a CBDC directly to individuals, ensuring the Fed cannot mobilize itself into a retail bank." /WLZ657hbfz NEW: Today Majority Whip Tom Emmer (R-MN) reintroduced the Central Bank Digital Currency ( #CBDC) Anti-Surveillance State Act. They aim to stop unelected officials in Washington, D.C., from creating a central bank digital currency (CBDC) that could infringe on Americans’ financial privacy. Congressman Tom Emmer (R-MN) and 49 fellow lawmakers have announced the reintroduction of the CBDC Anti-Surveillance State Act. Lawmakers Push to Protect Financial Privacy with CBDC Anti-Surveillance State Act This development might spark more discussions and debates about how much involvement governments should have in the world of digital currencies, potentially molding the future of the digital currency market. He strongly disagrees with President Biden, who wants a government-controlled digital currency that could spy on people’s financial transactions.ĥ0 US Lawmakers Reintroduce ‘CBDC Anti-Surveillance State Act’ to Protect ‘the American Way of Life’ | #antisurveillancebill #centralbankdigitalcurrencybill /7bjrMEOpNH Congressman Tom Emmer is leading this effort. They want to protect innovation and the development of true digital cash. This law aims to prevent the Federal Reserve from creating a digital currency that people would use for everyday transactions. lawmakers are pushing for a new law called the CBDC Anti-Surveillance State Act. The content on this page is for information purposes only.įifty U.S. Please note that we are not authorised to provide any investment advice.
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