US House Republican Majority Leader Tom Emmer has introduced a bill to protect citizens’ “financial privacy” when using CBDCs.
Today, I introduced the CBDC Anti-Surveillance State Act to halt efforts of unelected bureaucrats in Washington, DC from stripping Americans of their right to financial privacy. pic.twitter.com/lONbHFZMk7
— Tom Emmer (@GOPMajorityWhip) February 22, 2023
The document establishes three main requirements:
- Fed the issuance of national digital currency for individuals is prohibited;
- the agency cannot use the CBDC to implement monetary policy and control the economy;
- Fed projects in the field of the digital dollar should be transparent to Congress.
According to the congressman, the departure from these rules “opens the door for the development of a dangerous surveillance tool” for citizens.
“Any digital version of the dollar must uphold our American values of privacy, individual sovereignty, and inherent free market competitiveness,” Emmer said.
The politician introduced a similar bill in January 2022. At that time, the majority in the lower house of Congress belonged to the Democratic Party. The document had no co-authors and did not receive a move for consideration.
This time, Emmer enlisted the support of nine fellow congressmen from his faction. However, the party is in the minority in the Senate.
Back in 2021, Emmer advocated that the design of the digital dollar exclude the possibility of financial control over citizens.
Recall that ex-head of BitMEX Arthur Hayes called CBDC an ideal tool for governments and an encroachment on sovereignty over transactions between people.
Found a mistake in the text? Select it and press CTRL+ENTER
bitcoinlinux Newsletters: Keep your finger on the pulse of the bitcoin industry!
