Texas has followed Florida's lead in introducing a bill to ban Central Bank Digital Currencies (CBDCs) within the state. The bill highlights concerns about the potential risks associated with retail CBDCs, including government surveillance, control over private financial transactions, and transaction monitoring. Despite opposition to CBDCs, two Texas lawmakers have introduced identical bills for creating a state-based digital currency backed by gold. The bills propose that a fractional equivalent amount of physical gold would back the proposed digital currency, and the introduction of these bills indicates that some U.S. lawmakers are exploring alternatives to CBDCs.
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