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CBDCs could be ‘easily weaponized’ to spy on US citizens: Congressman

Press Releases Crypto News Cointelegraph CBDCs could be 'easily weaponized' to spy on US citizens: Congressman

United States Congressman Tom Emmer believes the launch of programmable central bank digital currency (CBDC) in the country could strip American citizens of their financial privacy.

Speaking at the Cato Institute, a Washington DC-based libertarian think tank on Mar. 9, Emmer explained that the programmable CBDC would be “easily weaponized” as a spying tool to “choke out politically unpopular activity,” among other things:

As the federal government seeks to maintain and expand financial control to which it has grown accustomed, the idea of the central bank digital currency has gained traction within the institutions of power in the United States as a government-controlled programmable money that can be easily weaponized into a surveillance tool.”

The Minnesota Representative introduced the CBDC Anti-Surveillance Act on Feb. 22 to halt the progress of The Digital Dollar Project, which has seen considerable developments in how it would be used since the second version of its whitepaper was released in mid-January.

“Recent actions from the Biden Administration make it clear that they are not only itching to create a digital dollar but they are willing to trade Americans’ right to financial privacy for the surveillance-style CBDC,” he added.

The Blockchain Regulatory Certainty Act
The Securities Clarity Act
The Safe Harbor for Taxpayers with Forked Assets Act
The CBDC Anti-Surveillance State Act

The future of crypto in the US will be determined by Congress and the American People – not the Administrative State. pic.twitter.com/OQ0uwxjVxX

— Tom Emmer (@GOPMajorityWhip) March 9, 2023

Emmer suggested that the blockchain-enabled “ownership economy” is “threatening” many bureaucrats in Washington DC, as it “shifts economic power from centralized institutions back into the hands of the people.”

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Author: Brayden Lindrea

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