In a recent press conference on Central Bank digital currencies (CBDCs) and crypto, Congressman Tom Emmer, the US House Majority Whip and prominent Republican discussed the House Republicans’ commitment to delivering on promises made to the American people.
Emmer’s emphasis on the protection of economic liberty has led to a reintroduction the Central Bank Digital Currency Anti-Surveillance Act. This legislation aims to ensure that US policies on digital currencies uphold values like privacy, freedom of the market, and individual sovereignty.
Republican-Backed Bill Challenges Biden Administration’s CBDCs Plans
Emmer expressed concerns about the Biden administration’s eagerness to create a Central Bank Digital Currency that could potentially compromise Americans’ right to financial privacy.
He said that if the CBDC was not private, open and permissionless like cash, then it could become a surveillance device similar to those used by the Chinese Communist Party. Emmer said that House Republicans were committed to preventing such a system from being implemented, protecting the American way-of-life.
Bitcoinist reported on Tuesday that the newly introduced bill is intended to combat…