Thursday, September 28, 2023

Representative Tom Emmer has reintroduced a bill against CBDC in the US Congress

The Representative Tom Emmer has reintroduced legislation aimed at preventing “unelected bureaucrats in Washington” from issuing a central bank digital currency (CBDC).

On September 12, Emmer revived 49 other original cosponsors “The CBDC Anti-Surveillance State Act” in the United States House of Representatives, in order, they say, to protect Americans’ right to financial privacy.

“The administration has made it clear: President Biden is willing to compromise Americans’ right to financial privacy for a form of surveillance with a CBDC,” said Emmer, a Republican, in a statement, adding:

“That’s why I’m reintroducing my landmark legislation to put a lid on unelected bureaucrats and ensure that America’s digital currency policy upholds our values ​​of privacy, individual sovereignty, and free market competition.”

Emmer first proposed the bill to address the CBDC issue in January 2022. It was formally introduced in Congress in February 2023 with the goal of limiting the Federal Reserve from issuing a programmable digital dollar that, according to Emmer, it is a “The surveillance tool that will be used to destroy the American way of life.”

The bill specifically prohibits the Fed from issuing CBDC to ordinary citizens, which, according to Emmer, This prevents a retail bank from being able to collect personal financial data.

The bill also prohibits the central bank from using any CBDC to implement monetary policy.

In March, Emmer warned against the militarization of money as the federal government seeks to maintain and expand financial controls.

American presidential candidate Robert F. Kennedy Jr. echoed this sentiment in May by saying: “That’s why I oppose CBDCs, which would greatly expand the government’s power to suppress dissent by cutting off access to funds with the touch of a key.”

Some supporters of “The CBDC Anti-Surveillance State Act” They include Senators French Hill, Warren Davidson, and Mike Flood.

Nation World News Desk
Nation World News Desk
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