The CBDC Anti-Surveillance State Act, which seeks to obstruct the issuance of a central bank digital currency (CBDC) by unelected bureaucrats in Washington, has progressed further in its legislative process by gaining approval from the House Financial Services Committee.
As announced in a press release by Representative Tom Emmer, the bill’s sponsor, on September 20, the CBDC Anti-Surveillance State Act has been successfully advanced out of the committee and endorsed for consideration on the House floor. This development paves the way for the bill to undergo a congressional vote.
Emmer highlighted that the bill has garnered support from 60 members of Congress. In his remarks regarding the committee’s decision, Emmer reiterated the concerns about government control over currency, asserting that such control contradicts fundamental American principles: “American values. This is what the future global digital economy needs. If not open, permissionless, and private—just like cash—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, along with 49 original co-sponsors, reintroduced the CBDC Anti-Surveillance State Act in the United States House of Representatives. This reintroduction came after the bill was initially introduced to Congress in February 2023. The legislation includes provisions intended to prohibit the Federal Reserve from issuing CBDCs to individuals and restrict the Fed’s utilization of CBDCs for monetary policy implementation.
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