The CBDC Anti-Surveillance State Act, aimed at preventing \u201cunelected bureaucrats in Washington\u201d from issuing a central bank digital currency (CBDC), has taken one step further on its procedural journey after it passed the House Financial Services Committee.<\/p>\n
According to a press release distributed by the bill\u2019s author, Representative Tom Emmer, on Sept. 20, the CBDC Anti-Surveillance State Act was passed out of the committee and favorably reported to the House floor. That means the bill will next face a congressional vote.<\/p>\n
Emmer stressed that the bill has already gained the support of 60 members of Congress. In his remarks regarding the committee\u2019s decision, Emmer once again emphasized the dangers of state control over currency and its incompatibility with American values: <\/p>\n
\u201cAmerican values. American values. This is what the future global digital economy needs. If not open, permissionless, and private \u2014 just like cash \u2014 a central bank digital currency is nothing more than a CCP [Chinese Communist Party]-style surveillance tool that can be weaponized to oppress the American way of life.\u201d<\/p><\/blockquote>\n
Emmer and 49 original co-sponsors reintroduced the CBDC Anti-Surveillance State Act in the United States House of Representatives on Sept.14. It was first formally introduced to Congress in February 2023.<\/p>\n