On September 12th, Tom Emmer, along with 49 original co-sponsors, reintroduced the “CBDC Anti-Surveillance State Act” in the United States House of Representatives. Their main goal, they argue, is to protect the financial privacy rights of American citizens. They fear an impending threat of excessive control from a CBDC.
Furthermore, Emmer was clear in expressing his concerns. He said, “The current administration has left no room for ambiguity.” Emmer believes President Biden is willing to compromise American financial privacy for a surveillance-capable CBDC.
Additionally, He also emphasized his legislative intent, saying, “This is why I’m reintroducing this landmark legislation.” His goal is to provide a check on unelected bureaucrats and maintain US digital currency policies in line with core values: privacy, individual autonomy, and free-market competitiveness.
CBDC Anti-Surveillance State Act: Tom Emmer Stand Against Digital Dollar Surveillance
Tom Emmer introduced this legislation in January 2022. It officially entered Congress in February 2023. Its main goal is to limit the Federal Reserve’s authority in creating a programmable digital dollar.
Emmer argues that this digital dollar could become a powerful surveillance tool. He also believes it has the potential to undermine the fundamental principles of the American way of life.
The legislation, in clear and unequivocal terms, prohibits the Federal Reserve from distributing a CBDC to individual citizens. Emmer believes that this provision is crucial to prevent a retail banking system from harvesting personal financial data.
Furthermore, the bill categorically forbids the central bank from leveraging any CBDC for the implementation of monetary policy.
In a poignant address in March, Tom Emmer cautioned against the weaponization of currency, highlighting the federal government’s ambitions to expand its control over the financial landscape.
U.S. presidential candidate Robert F. Kennedy Jr. echoed these concerns in May, stating, “This is precisely why I oppose CBDCs, which will dramatically amplify the government’s authority to stifle dissent by severing access to funds with a mere keystroke.”
Interestingly, supporters of the CBDC Anti-Surveillance State Act encompass Senators French Hill, Warren Davidson, and Mike Flood.
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