United States Congressman Tom Emmer has introduced a new bill seeking to block the Federal Reserve (the Fed) from issuing a central bank digital currency (CBDC). 

The bill dubbed ‘CBDC Anti-Surveillance State Act’ seeks to protect U.S. citizens’ financial privacy,’ Emmer said in a tweet on February 222.

“Any digital version of the dollar must uphold our American values of privacy, individual sovereignty, and free market competitiveness. Anything less opens the door to the development of a dangerous surveillance tool,” Emmer said. 

The bill seeks to bar the Fed from issuing the digital dollar to anyone, alongside using a CBDC to implement monetary policy and control the economy. 

Furthermore, if the bill is passed into law, the House Majority Whip noted that the Fed should be transparent to Congress in the course of its CBDC project. Regarding pilot projects, the bill requires the Federal Reserve to brief Congress on a quarterly basis. 

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