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Legislation aimed at preventing \u201cunelected bureaucrats in Washington\u201d from issuing a central bank digital currency (CBDC) has been reintroduced by Representative Tom Emmer.<\/p>\n
On Sep. 12, Emmer and 49 original co-sponsors revived the \u201cCBDC Anti-Surveillance State Act\u201d in the United States House of Representatives in a bid, they claim, to protect Americans\u2019 right to financial privacy. <\/p>\n
\u201cThe administration has made it clear: President Biden is willing to compromise the American people\u2019s right to financial privacy for a surveillance-style CBDC,\u201d Emmer, a Republican, said in a statement, adding:<\/p>\n
\u201cThat\u2019s why I\u2019m reintroducing my landmark legislation to put a check on unelected bureaucrats and ensure the United States\u2019 digital currency policy upholds our values of privacy, individual sovereignty, and free-market competitiveness,\u201d<\/p><\/blockquote>\n
Emmer first proposed the bill to address CBDCs in January 2022. It was formally introduced to Congress in February 2023 with the aim of limiting the Federal Reserve from minting a programmable digital dollar which Emmer claims is a \u201csurveillance tool that would be used to undermine the American way of life.\u201d<\/p>\n
\nToday, with 49 of my Republican colleagues, I reintroduced the CBDC Anti-Surveillance State Acthttps:\/\/t.co\/mbke95IHBn<\/p>\n