Wednesday, July 2, 2025

US Congressman Leads Charge In Preventing The Fed To Develop CBDC

US Congressman Tom Emmer has introduced a significant new bill aimed at preventing the Federal Reserve (Fed) from developing a Central Bank Digital Currency (CBDC).

Dubbed the “Central Bank Digital Currency Anti-surveillance State Act,” this proposed legislation seeks to establish a critical safeguard against unchecked bureaucratic power while emphasizing the values of privacy, individual sovereignty, and a competitive free market in the United States’ digital currency policy.

“If not open, permissionless, and private – like cash – a CBDC is nothing more than a CCP-style surveillance tool that can be weaponized to oppress the American way of life,” Emmer said.

The Republican congressman from Minnesota warns that without these essential attributes, a CBDC could potentially transform into a surveillance tool akin to those employed by authoritarian regimes.

“We’re not going to let that happen – not on House Republicans’ watch,” he added.

While many nations across the globe have explored or implemented their own CBDCs, the United States has grappled with internal divisions regarding this concept and its broader implications for the cryptocurrency industry.

Emmer is deeply concerned that the creation of a CBDC could jeopardize Americans’ financial privacy rights. He criticizes what he perceives as an overreach by the administrative state, asserting that it seeks to wrest control of the future of cryptocurrency away from the hands of the people. The CBDC, if introduced, would provide unprecedented access to Americans’ financial data, a level of intrusion that traditional physical US dollars do not permit.

It remains uncertain whether the bill to prohibit the Federal Reserve from pursuing the development of a CBDC will take immediate effect.

Meanwhile, Michael Barr, the Federal Reserve’s Vice Chair for Supervision, has indicated that the United States might not be on the verge of launching a CBDC anytime soon. According to Barr, the Central Bank is far from making a final decision on whether to introduce a CBDC.

Nevertheless, it’s worth noting that the Federal Reserve has been actively engaged in CBDC research, conducting public studies, technology experiments, and limited pilot programs. Thus, while a US CBDC remains a possibility, its implementation may still be a considerable distance away.


Information for this briefing was found via Watcher.Guru and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Gold Drilling Scaled to 60,000 Meters: How Big Can This Get? | Roger Rosmus – Goliath Resources

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Recommended

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Goliath Resources Expands 2025 Drill Program To 60,000 Metres

Related News

Kyle Bass: Fed Will Reverse Rate Hike Plans Once Markets Start Crashing

In his first CNBC interview since the beginning of the new year, Hayman Capital founder...

Saturday, January 15, 2022, 01:18:00 PM

Fed Losing Control of Monetary Policy as Biden Admin Warns of ‘Extraordinarily Elevated’ Inflation Print

It’s official: the Fed has lost complete control over inflation, prompting the White House to...

Monday, April 11, 2022, 05:32:22 PM

Rescuing Fallen Banks Mean No More Fed Rate Hikes, Says Goldman

According to Goldman Sachs, there is no longer a rationale for the Federal Reserve to...

Tuesday, March 14, 2023, 10:28:32 AM

Jerome Powell Hikes Rates 50 Basis Points, Signals More Hawkish Tightening

As widely expected, central bank officials raised borrowing costs another 50 basis points, bringing the...

Wednesday, December 14, 2022, 02:30:50 PM

Federal Reserve Cuts Interest Rates 25 Bps, Signals Cautious Optimism

The Federal Reserve announced a quarter-point cut in its benchmark interest rate on Wednesday, lowering...

Wednesday, December 18, 2024, 02:11:19 PM