{"id":154905,"date":"2023-09-13T10:25:44","date_gmt":"2023-09-13T04:55:44","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=154905"},"modified":"2023-09-13T10:25:44","modified_gmt":"2023-09-13T04:55:44","slug":"rep-tom-emmer-reintroduces-anti-cbdc-bill-to-congress-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/rep-tom-emmer-reintroduces-anti-cbdc-bill-to-congress-crypto-news\/","title":{"rendered":"Rep. Tom Emmer reintroduces anti-CBDC bill to Congress – Crypto News"},"content":{"rendered":"
\n

Legislation aimed at preventing \u201cunelected bureaucrats in Washington\u201d from issuing a central bank digital currency (CBDC<\/a>) has been reintroduced by Representative Tom Emmer.<\/p>\n

On Sep. 12, Emmer and 49 original co-sponsors revived<\/a> the \u201cCBDC Anti-Surveillance State Act\u201d in the United States House of Representatives in a bid, they claim, to protect Americans\u2019 right to financial privacy. <\/p>\n

\u201cThe administration has made it clear: President Biden is willing to compromise the American people\u2019s right to financial privacy for a surveillance-style CBDC,\u201d Emmer, a Republican, said in a statement, adding:<\/p>\n

\u201cThat\u2019s why I\u2019m reintroducing my landmark legislation to put a check on unelected bureaucrats and ensure the United States\u2019 digital currency policy upholds our values of privacy, individual sovereignty, and free-market competitiveness,\u201d<\/p><\/blockquote>\n

Emmer first proposed<\/a> the bill to address CBDCs in January 2022. It was formally introduced<\/a> to Congress in February 2023 with the aim of limiting the Federal Reserve from minting a programmable digital dollar which Emmer claims is a \u201csurveillance tool that would be used to undermine the American way of life.\u201d<\/p>\n

\n

Today, with 49 of my Republican colleagues, I reintroduced the CBDC Anti-Surveillance State Acthttps:\/\/t.co\/mbke95IHBn<\/a><\/p>\n

\u2014 Tom Emmer (@GOPMajorityWhip) September 12, 2023<\/a><\/p><\/blockquote>\n

The bill<\/a> specifically prohibits the Fed from issuing a CBDC to individuals which Emmer says would stop it mobilizing into a retail bank able to collect personal financial data.<\/p>\n

The bill also prohibits the central bank from using any CBDC to implement monetary policy.<\/p>\n

Related: <\/em><\/strong>Congressman Tom Emmer says SEC chair Gary Gensler is a \u2018bad faith regulator\u2019<\/em><\/strong><\/a><\/p>\n

In March, Tom Emmer warned against<\/a> the weaponization of money as the federal government seeks to maintain and expand financial control.<\/p>\n

U.S. presidential candidate Robert F. Kennedy Jr. echoed the sentiment<\/a> in May stating, \u201cThat is why I oppose CBDCs, which will vastly magnify the government\u2019s power to suffocate dissent by cutting off access to funds with a keystroke,\u201d<\/p>\n

Other supporters of the CBDC Anti-Surveillance State Act include Senators French Hill, Warren Davidson, and Mike Flood. <\/p>\n

Magazine: Deposit risk: What do crypto exchanges really do with your money?<\/a><\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Legislation aimed at preventing \u201cunelected bureaucrats in Washington\u201d from issuing a central bank digital currency (CBDC) has been reintroduced by Representative Tom Emmer. On Sep. 12, Emmer and 49 original co-sponsors revived the \u201cCBDC Anti-Surveillance State Act\u201d in the United States House of Representatives in a bid, they claim, to protect Americans\u2019 right to financial […]<\/p>\n","protected":false},"author":2,"featured_media":154906,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-154905","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/154905","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=154905"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/154905\/revisions"}],"predecessor-version":[{"id":154908,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/154905\/revisions\/154908"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/154906"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=154905"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=154905"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=154905"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}