The “CBDC Anti-Surveillance State Act” was given fresh life on September 12th by Representative Tom Emmer and 49 other co-sponsors in a strong stand for financial privacy and individual sovereignty. This important piece of legislation, which has just been reintroduced in the House of Representatives of the United States, intends to protect Americans’ financial privacy by prohibiting the creation of a Central Bank Digital Currency (CBDC) by what Emmer refers to as “unelected bureaucrats in Washington.”
Emmer’s commitment to preserving financial privacy is unwavering. He believes that the current administration’s willingness to compromise this privacy in pursuit of a surveillance-style CBDC is unacceptable. According to Emmer, this legislation serves as a crucial check on the power of unelected officials, ensuring that the United States’ digital currency policy aligns with its core values: privacy, individual sovereignty, and free-market competitiveness.
A Long-Standing Battle
In his statement, Representative Emmer stated, “The administration has made it clear: President Biden is willing to compromise the American people’s right to financial privacy for a surveillance-style CBDC.” He firmly believes that this legislation is necessary to thwart such intentions and protect the essence of the American way of life.
![Rep. Emmer's anti-CBDC bill reintroduced image 90](https://i0.wp.com/nosisnews.com/wp-content/uploads/2023/09/image-90.png?resize=871%2C630&ssl=1)
![Rep. Emmer's anti-CBDC bill reintroduced image 90](https://i0.wp.com/nosisnews.com/wp-content/uploads/2023/09/image-90.png?resize=871%2C630&ssl=1)
This legislation is not a spur-of-the-moment decision. Emmer’s journey to protect financial privacy began in January 2022 when he initially proposed the bill to address CBDCs. It was formally introduced to Congress in February 2023. The core objective of the bill is to restrict the Federal Reserve from minting a programmable digital dollar, which Emmer argues could be weaponized as a surveillance tool to erode fundamental American values.
The bill lays out clear provisions. Firstly, it prohibits the Federal Reserve from issuing a CBDC directly to individuals. This measure is designed to prevent the central bank from expanding into a retail bank capable of gathering personal financial data. Secondly, the legislation prevents the central bank from utilizing any CBDC for implementing monetary policy.
Related: CBDC Debate Heats Up as Davidson Calls for Ban
A Unifying Cause
Emmer’s stance has found resonance not only within his own party but also among other prominent figures. In March, he voiced concerns over the potential weaponization of money by the federal government as it seeks to exert and expand financial control. U.S. presidential candidate Robert F. Kennedy Jr. shared similar concerns in May, emphasizing how CBDCs could vastly amplify the government’s power to stifle dissent by cutting off access to funds at will.
🚨Today, with 49 of my Republican colleagues, I reintroduced the CBDC Anti-Surveillance State Act👇https://t.co/mbke95IHBn
— Tom Emmer (@GOPMajorityWhip) September 12, 2023
Support for the CBDC Anti-Surveillance State Act extends beyond party lines. Senators French Hill, Warren Davidson, and Mike Flood are among the notable proponents of this legislation. Their collective commitment to preserving financial privacy and safeguarding the principles upon which the United States was built underscores the significance of this legislative battle.
As the debate over CBDCs continues to evolve, Emmer’s unwavering dedication to protecting financial privacy serves as a reminder of the enduring importance of individual liberties and the resilience of democracy in the digital age. The battle against a surveillance-style CBDC is far from over, but with champions like Tom Emmer leading the charge, the fight continues with unwavering resolve.