Tag: Central Bank Digital Currency (CBDC)

Americans are worried that a U.S. Central Bank Digital Currency (CBDC) could end up compromising essential freedoms, further centralizing monetary policy, and making the country’s currency vulnerable to hacking, according to a recently published Fed survey. In January last year, the Fed published a white paper on what a CBDC could look like. It asked for public comments on issues ...

Republican Sen. Ted Cruz introduced new legislation on March 21 that would ban the Federal Reserve from launching a “direct-to-consumer” central bank digital currency (CBDC), citing concerns over its potential to be used as a “financial surveillance tool” by the federal government. The latest bill is a second attempt by Cruz to stop the Federal Reserve from issuing a CBDC directly to ...

House Majority Whip Tom Emmer (R-Minn.) has introduced legislation that seeks to prevent the Federal Reserve from issuing a central bank digital currency (CBDC), while insisting that a digital equivalent to the dollar must uphold privacy and sovereignty. The “CBDC Anti-Surveillance State Act” prohibits the Federal Reserve from issuing a CBDC directly to an individual. “The Board of Governors of ...