We are Sure Bet News BTC famous casinos not on gamstop reviews
News from around the world

Ted Cruz and 5 Other Senators Introduces Legislation to Ban Central Bank Digital Currencies in the US

images 2024 02 28T155533.700

Ted Cruz, a Republican senator from Texas, has introduced a new legislation that aims to prohibit the US government from creating or issuing any form of central bank digital currency (CBDC). He argues that CBDCs will pose a threat to the privacy, security, and freedom of Americans, and could also “choke out politically unpopular activity.”

CBDCs are essentially digital tokens that represent a claim on the central bank, and that can be used for payments and transfers through digital wallets or platforms.

The legislation, known as the “Central Bank Digital Currency (CBDC) Anti-Surveillance State Act”, received support from four additional Republican senators, namely Bill Hagerty, Rick Scott, Ted Budd, and Mike Braun.

This Anti-Surveillance State Act “would prohibit the Federal Reserve from issuing a CBDC directly to anyone,” therefore, impeding them from evolving into a retail bank. The bill will also prevent them from “issuing a CBDC indirectly to individuals through financial institutions or other third parties, as well as prevent the Federal Reserve from using a CBDC as a tool to implement monetary policy and control the economy.”

In a statement Ted Cruz briefly explained that,

“The Biden administration salivates at the thought of infringing on our freedom and intruding on the privacy of citizens to surveil their personal spending habits, which is why Congress must clarify that the Federal Reserve has no authority to implement a CBDC. I’m proud to lead the fight in the Senate to restrict the Federal Reserve’s exploration of and attempt to introduce a CBDC to the American economy.”


The legislation has received the endorsement of several prominent organizations, including Heritage Action for America (HAFA), the Blockchain Association, the American Bankers Association (ABA), the Independent Community Bankers Association (ICBA), and Club for Growth (CFG).

In the combined statement released by the office of each senator, Heritage Action for America said that they “will be issuing a Key Vote Cosponsorship to encourage support for Senator Cruz and Whip Emmer’s bill—the Anti-Surveillance State Act—and will include cosponsorship on our legislative scorecard.”

Related posts

Video: When CNN Director Charlie Chester Said Climate Change & Global Warming Will Be Next Planned Pandemic, The Simpsons, Alleged Walt Disney Cartoon Predict Weather Control Through Cloud Seeding

Irene Blinks

Hurricane Milton Update – The Strongest Ever Forces Florida Evacuations As Debate If Artificially Created Persist & Choppers From Fema Blamed For Intentionally Flying Low To Destroy Relief To Helene Victims – Videos & Photos

Irene Blinks

Videos: George Pickens Grabs Jourdan Lewis’ Facemask After Cowboys Defeats Steelers 20-17

Sylvia

Patriot’s Captain Jabrill Peppers Arrested On Multiple Charges, Including Drug Possession

Sylvia

“The Achievements of Kamala Harris” Book With Empty Pages Sell On Amazon & Walmart As A Political Humor As Another Claims Cocaine Found In White House Last Year Was Kamala’s But Hunter Biden Was Chosen To Take The Fall

Jules

Photos: Mexican Chilpancingo Mayor Alejandro Arcos Catalán Beheaded 6 Days After Taking Office

Irene Blinks

Leave a Comment