The CBDC Anti-Surveillance State Act, which aims to prevent “unelected bureaucrats in Washington” from issuing a central bank digital currency (CBDC), has passed the House Financial Services Committee.
The bill’s author, Representative Tom Emmer, issued a press release on September 20 stating that the CBDC Anti-Surveillance State Act was passed out of committee and reported favorably to the House floor. This means that Congress will vote on the bill next.
Emmer emphasized that sixty members of Congress have already indicated their support for the measure. In his remarks about the committee’s decision, Emmer reiterated the perils of state control over currency and its incompatibility with American values.
“American values. American values. This is what the future global digital economy needs. If not open, permissionless, and private — just like cash — 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.”
On September 14, Emmer and 49 original co-sponsors reintroduced the CBDC Anti-Surveillance State Act in the House of Representatives of the United States. It was officially introduced to Congress for the first time in February 2023.
The bill contains provisions prohibiting the Federal Reserve from issuing a CBDC to individuals and bars the Fed from utilizing any CBDC to implement monetary policy.
In a recent interview with Cointelegraph, Emmer referred to digital assets as a “sleeper issue” in state and federal American politics.
According to Emmer, there is a generational divide in the United States in which residents could push back on policies that could hinder the digital space and “flush out” technologically ignorant legislators.
