Several U.S. lawmakers, including Senators Ted Cruz and Dan Bishop, are pushing back against the Biden administration's potential issuance of a Central Bank Digital Currency (CBDC). They argue that CBDCs pose a threat to privacy and personal freedoms, likening them to surveillance tools that could lead to a Chinese-style social credit system. The proposed legislation aims to prevent the government from implementing a CBDC, with concerns raised about government overreach and the potential for financial surveillance.
Appreciate @Zachary covering our concerns about @SenateAgDems' "The Digital Commodities Consumer Protection Act" (DCCPA) in the indispensable #MorningMoney. The bill was fully supported by @FTX_Official and its now criminally convicted CEO Sam Bankman-Fried and others in the… https://t.co/DyqasoeOii
#CBDC Anti-Surveillance State Act Back in the Senate ⬇️ #cryptonews https://t.co/PQTs5pwDG4
CBDCs = GOV'T CONTROL = NO PRIVACY. On central bank digital currencies (CBDCs), my good friend & distinguished Durham Prof. Kevin Dowd writes: "A CBDC is far from a solution. What about privacy & trust? People might not trust banks, but trust in the gov't has been at historic…
GOP Senators Sound Alarm Over CBDCs, Propose Bill To Ban Them https://t.co/7L3Malp96H
The #CBDC Anti-Surveillance State Act has been reintroduced in the Senate with the support of five U.S. senators. https://t.co/bbLemlAQms
#CBDC Anti-Surveillance State Act Back in the #Senate https://t.co/bbLemlAQms
📣 Latest News: Five US Senators Sign Bill To Oppose Biden's Digital Dollar CBDC Plan #news #cryptonews #crypto #digital #dollar
It's absolutely imperative that the FedGov be implicitly and strongly restrained from ever issuing a CBDC. It cannot be allowed, even under some concocted 'emergency'. https://t.co/uDhMP17uvk
The Biden administration tried to spy on your bank account if you spent $600. We can't let them build the ultimate surveillance tool with a Central Bank Digital Currency. https://t.co/TeMXmkK1ao
JUST IN: 🇺🇸 U.S. Congressman Dan Bishop says "CBDCs are a direct threat to every freedom we hold dear." https://t.co/3l9lGEWE9a
CBDCs are a direct threat to every freedom we hold dear. If this tyranny is allowed to take hold in America, a Chinese-style social credit system will not be far behind. Proud to cosponsor this critical legislation with @SenTedCruz and @GOPMajorityWhip. https://t.co/6H4VUsRpSi
CBDCs are programmable, traceable, trackable, & taxable surveillance tokens. The last thing we need is the government surveilling our every purchase & punishing our personal finances the way they’re already punishing conservative thought. @profstonge https://t.co/2c6gtkTwyF
Government bureaucrats have been far too willing to exploit the financial system to advance political agendas & target Americans. I joined @SenTedCruz in introducing legislation to halt efforts by the Biden Admin to issue a CBDC, which would violate Americans’ privacy & rights. https://t.co/0co6SET0np