U.S. Representative Reintroduces CBDC-Privacy Bill

On September 12, House Republican Leader Tom Emmer and 49 co-authors of the ‘financial privacy’ bill вынесли document for the administration’s consideration.

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The initiative aims to ban the central bank digital currency (CBDC) issuance by \”unelected bureaucrats in Washington\”.

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\”The administration has made clear: President Biden is prepared to jeopardize the American people’s right to financial privacy for a CBDC that tracks them,\” Emmer said.

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Since 2021, Emmer has argued that the design of a digital dollar would exclude the possibility of financial surveillance of citizens.

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In February 2023, the congressman introduced the first version of the CBDC bill. According to the document, ФРС is prohibited from using the digital dollar to conduct monetary policy and to control the economy. The initiative also limits access to the technology for individuals.

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Other supporters of the \”financial privacy\” bill include Senators French Hill, Warren Davidson, and Mike Flood.

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Earlier, Emmer described the CBDC technology as an affront to American values, privacy, individual sovereignty and the free market. In his view, the CBDC issue embodies a struggle between the authorities and ordinary citizens.

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Earlier in August, U.S. presidential candidate Vivek Ramaswamy criticized the digital dollar and Treasury Secretary Janet Yellen for promoting the central bank digital currency.

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Florida Governor Ron DeSantis, who is mounting a presidential bid, also spoke out against the introduction of a CBDC. In May, he announced a ban on the digital dollar in the state.