🚫🇺🇸 Five US senators are joining forces against the Biden administration's plan to launch a "digital dollar" by filing legislation to ban central bank digital currencies (CBDC). Led by Senator Ted Cruz, the group challenged the Federal Reserve's authority to implement such a system.

They are concerned about potential privacy violations and surveillance that may arise from the proposed CBDC. Senator Cruz called CBDC “government programmable money” and warned of the potential collection of citizens' personal data.

The purpose of this law is to limit the Federal Reserve's ability to offer CBDCs to individuals and prohibit their use for monetary policy purposes.

Come on, discuss it in the comments column, do you agree with this step? 😄👇