House Majority Whip Tom Emmer (R-MN) on Wednesday introduced legislation to prevent the Federal Reserve from issuing a central bank digital currency (CBDC), which he and others say could surveil Americans’ financial activity.
He continued, “Any digital version of the dollar must uphold our American values of privacy, individual sovereignty, and free market competitiveness. Anything less opens the door to the development of a dangerous surveillance tool.”
Emmer said that Reps. French Hill , Warren Davidson , Andy Biggs , Mike Flood , Byron Donalds , Pete Sessions , Barry Loudermilk , Young Kim , and Ralph Norman cosponsored the bill.it is “exploring the potential benefits and risks of CBDCs from a variety of angles,” which includes research and experimentation.
for the creation of a CBDC, which would grant the federal government immense control over Americans’ money.“And, why do they want to do that? Because eventually, they want to be able to decide which transactions to approve and disapprove of. You know, that’s what it’s ultimately all about.”
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