US Lawmakers Bill Against CBDC Gains Support

The CBDC Anti-Surveillance State Act, a U.S. bill aimed at stopping a central bank digital currency (CBDC), has moved forward. It passed the House Financial Services Committee and will go for a vote in Congress. The bill's writer, Representative Tom Emmer, says it has the support of 60 lawmakers.

Emmer warns that CBDCs could be dangerous if controlled by the state. He believes they should be open, private, and permissionless, like cash. Otherwise, they could become tools for surveillance and oppression.

First introduced in February 2023, this bill blocks the Federal Reserve from creating a CBDC for individuals or using it for monetary policy.

In a recent interview, Emmer said that digital assets are a hidden issue in U.S. politics. He believes there's a generational difference that could lead to a pushback against any rules that limit the digital world.