US House Passes Central Bank Digital Currency Anti-Surveillance State Act



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US House Passes Central Bank Digital Currency Anti-Surveillance State Act





By Kevin Helms

Fri May 24 15:35:3 EST 2024

The House of Representatives has passed Congressman Tom Emmer’s CBDC Anti-Surveillance State Act, which prohibits the Federal Reserve from issuing a surveillance-oriented central bank digital currency (CBDC). The lawmaker emphasized that the bill protects American values of privacy and individual sovereignty, countering potential governmental overreach.

CBDC Anti-Surveillance Act Clears House

Following the passage of the landmark crypto bill, the Financial Innovation and Technology for the 21st Century (FIT21) Act, the U.S. House of Representatives passed the CBDC Anti-Surveillance State Act on Thursday.

Majority Whip Tom Emmer (R-MN) wrote on social media platform X: “The House of Representatives just passed our CBDC Anti-Surveillance State Act … For more than two years, we have worked to educate, grow support, and pass this important legislation, which prevents unelected bureaucrats from issuing a financial surveillance tool to fundamentally undermine our American values.”