On Sept. 20, the CBDC Anti-Surveillance State Act passed out of the Financial Services Committee. Republican Senator Tom Emmer said it was,

“A historical step in defending against an ever-expanding government surveillance state.”

The House Majority Whip has been battling against Federal Reserve moves to develop a CBDC.

The first anti-CBDC bill in the United States passed out of the Financial Services Committee today! A historical step in defending against an ever-expanding government surveillance state. https://t.co/1XXSEHOhNC

— Tom Emmer (@GOPMajorityWhip) September 20, 2023

Anti-CBDC Bill Moves Forward

The Act is the first anti-CBDC legislation introduced in the United States. Senator Emmer first proposed the CBDC bill in January 2022, and it was formally introduced to Congress in February 2023.

The primary aim is to limit the Federal Reserve from minting a programmable CBDC, which Emmer claims is a “surveillance tool that would be used to undermine the American way of life.”

The bill has the support of 60 members of Congress and additional industry groups, Emmer said.

He warned that a CBDC is very different from decentralized digital assets in that it transacts on a digital ledger that is designed and controlled by the government.

“In short, a central bank digital currency is a government controlled programmable money, if not designed like cash, could give the federal government the ability to surveil and restrict American’s transactions.”

Senator Emmer cited China as an example of where this is already happening. The ruling communist party has designed a CBDC to track the spending habits of its citizens, wh