This article discusses the anti-CBDC bill reintroduced by Congressman Tom Emmer, which seeks to prevent the central bank from using a digital currency like the CBDC to implement monetary policy and, in doing so, compromise individual financial privacy.
It also aims to curb the influence of unelected bureaucrats in Washington, D.C. who might push for a CBDC without adequate safeguards for privacy and individual liberties.
US Congressmen Argue Digital Dollar Could Become a Surveillance Tool In the United States, there has been a growing interest in digital currencies.
Numerous countries are considering or have already experimented with them.
Some governments, including China, have successfully implemented CBDCs.
However, concerns have arisen over the potential risks associated with these coins.
Congressman Emmer believes that any government digital currency respects the principles of privacy, sovereignty, and free-market competitiveness.
His legislation seeks to ensure that such a currency does not violate Americans’ right to privacy.
Anti-CBDA Act Pushes for