Representative Tom Emmer Introduces Bill to Protect Americans' Financial Privacy against Surveillance-style CBDC
Summary:
Representative Tom Emmer reintroduces legislation to prevent unelected bureaucrats in Washington from issuing a CBDC, aiming to protect Americans' financial privacy. The "CBDC Anti-Surveillance State Act" restricts the Federal Reserve from minting a programmable digital dollar and prohibits the central bank from using a CBDC for implementing monetary policy. Supporters include Senators French Hill, Warren Davidson, and Mike Flood.
Representative Tom Emmer has reintroduced legislation in the United States House of Representatives aimed at preventing unelected bureaucrats in Washington from issuing a central bank digital currency (CBDC). Emmer and 49 original co-sponsors revived the bill called the "CBDC Anti-Surveillance State Act" to protect Americans' financial privacy. Emmer, a Republican, emphasized the need to check unelected bureaucrats and ensure that the US digital currency policy aligns with privacy, individual sovereignty, and free-market competitiveness. The bill was initially proposed in January 2022 and formally introduced to Congress in February 2023. It restricts the Federal Reserve from minting a programmable digital dollar that Emmer believes could be used as a surveillance tool. The bill specifically prohibits the issuance of a CBDC to individuals and prevents the central bank from using a CBDC for implementing monetary policy. Supporters of the legislation include Senators French Hill, Warren Davidson, and Mike Flood.
Published At
9/13/2023 4:11:20 AM
Disclaimer: Algoine does not endorse any content or product on this page. Readers should conduct their own research before taking any actions related to the asset, company, or any information in this article and assume full responsibility for their decisions. This article should not be considered as investment advice. Our news is prepared with AI support.
Do you suspect this content may be misleading, incomplete, or inappropriate in any way, requiring modification or removal?
We appreciate your report.