{"id":82080,"date":"2023-07-24T12:39:00","date_gmt":"2023-07-24T09:39:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=82080"},"modified":"2025-09-12T02:58:08","modified_gmt":"2025-09-11T23:58:08","slug":"congress-proposes-criminal-liability-for-issuing-cbdc","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/congress-proposes-criminal-liability-for-issuing-cbdc\/","title":{"rendered":"Congress proposes criminal liability for issuing CBDC"},"content":{"rendered":"<p>Republican from Ohio in the U.S. House of Representatives Warren Davidson urged Congress to ban and then criminalize efforts to design, create, modify, test, or launch <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-central-bank-digital-currency-cbdc\">CBDC<\/a>.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/image-459.webp\" alt=\"image-459\" class=\"wp-image-212091\"\/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/twitter.com\/WarrenDavidson\/status\/1683079077245120514\">Twitter<\/a>.<\/figcaption><\/figure>\n<\/div>\n<p>In the legislator&#8217;s view, CBDC turns money into a tool of coercion and control. <span data-descr=\"U.S. Federal Reserve System\" class=\"old_tooltip\">\u0424\u0420\u0421<\/span> is building the financial equivalent of the <a href=\"https:\/\/ru.wikipedia.org\/wiki\/%D0%97%D0%B2%D0%B5%D0%B7%D0%B4%D0%B0_%D0%A1%D0%BC%D0%B5%D1%80%D1%82%D0%B8\">\u00abDeath Star\u00bb<\/a>, he added.<\/p>\n<p>Thus, Davidson reacted to the <span data-descr=\"Federal Reserve Bank of San Francisco\" class=\"old_tooltip\">\u0424\u0420\u0411 \u0421\u0430\u043d-\u0424\u0440\u0430\u043d\u0446\u0438\u0441\u043a\u043e<\/span> vacancy for \u201cSenior Crypto Architect\u201d, who would be tasked with participating in the digital dollar project.<\/p>\n<p>The lawmaker explained that money is meant to be a stable store of value and should not be programmable by a central authority.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cSound money is created for seamless peer-to-peer transactions\u201d,<\/em> \u2014 stated the Republican.<\/p>\n<\/blockquote>\n<p>In March 2023, U.S. Representative Tom Emmer <a href=\"https:\/\/forklog.com\/en\/news\/u-s-congressman-flags-privacy-threat-from-cbdc-rollout\">spoke out against the digital dollar<\/a>. In his view, CBDC technology insults American values and could contribute to \u201cfinancial control\u201d over citizens.<\/p>\n<p>Earlier he introduced <a href=\"https:\/\/forklog.com\/en\/news\/u-s-congressman-opposes-fed-control-over-the-digital-dollar\">a bill to protect \u201cfinancial privacy\u201d<\/a> in the use of central bank digital currency. The main provision of the document is a prohibition on the Fed from distributing CBDC to individuals.<\/p>\n<p>In April, Texas Republican Senator Ted Cruz <a href=\"https:\/\/forklog.com\/en\/news\/us-senator-praises-bitcoin-and-warns-cbdc-launch-would-be-dangerous-to-society\">called<\/a> the launch of a national digital currency dangerous for society.<\/p>\n<p>In May, Florida Governor Ron DeSantis <a href=\"https:\/\/forklog.com\/en\/news\/us-presidential-candidate-pledges-to-defend-bitcoin\">promised<\/a> to defend the first cryptocurrency if elected head of state.<\/p>\n<p>In July, one of Kennedy Republicans\u2019 rivals \u2014 Robert F. Kennedy Jr. \u2014 <a href=\"https:\/\/cdn.jwplayer.com\/previews\/5S9igNBe\"> \u043e\u0442\u043c\u0435\u0442\u0438\u043b,<\/a> that if he wins the election he will make decisions that \u201csupport Bitcoin and the freedom to transact, allowing people to manage their wallets, nodes and passwords\u201d. <\/p>\n<p>In June, Coinbase CEO Brian Armstrong <a href=\"https:\/\/forklog.com\/en\/news\/coinbase-ceo-says-us-elections-could-be-a-turning-point-for-crypto-regulation\">described<\/a> the upcoming U.S. elections as a key moment for regulating digital assets. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Republican from Ohio Warren Davidson in the U.S. House of Representatives urged Congress to ban and then criminalize the launch of CBDC.<\/p>\n","protected":false},"author":1,"featured_media":82081,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1095,1334,36,1230],"class_list":["post-82080","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cbdc","tag-digital-dollar","tag-regulation","tag-us-congress"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/82080","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=82080"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/82080\/revisions"}],"predecessor-version":[{"id":82082,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/82080\/revisions\/82082"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/82081"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=82080"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=82080"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=82080"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}