US Lawmakers Ramp Up Backing for CBDC Anti-Surveillance Bill Amidst the buzz of digital currency and potential government oversight, a
milestone surfaces.
75 US lawmakers now champion a cause that's stirring hearts and tweets!
What's at stake, you ask?
Privacy and power, plain and simple. Congressman Tom Emmer's bill, the CBDC Anti-Surveillance State Act, aims to stop Uncle Sam from turning into a financial Big Brother. You heard it here: Emmer and his
75-strong brigade are saying 'no' to the feds directly meddling with our digital dough.
Key takeaways from the bill? The Federal Reserve's hands will be tied, unable to open accounts for individuals or shower them directly with digital currency. It's all about
putting boundaries on an institution that's more used to drawing them.
Since its intro in January 2022, this bill's been like a snowball rolling down Capitol Hill - getting
bigger and bolder. Just recently, the House Financial Services Committee gave it a thumbs up. Seems like this snowball's picking up speed, and lawmakers are building a bipartisan snowman that might just stand the test of time.
Emmer paints a picture: a government-issued digital currency could be
Big Brother in your wallet. Unlike the wild west of decentralized cryptos, a central bank digital currency (CBDC) is government-scripted and could put a magnifying glass on every transaction you make.
