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US Congressman Proposes Bill to Block Federal Reserve from Creating American CBDC

US Republican House Majority Whip Tom Emmer has introduced a bill on Wednesday to prevent the Federal Reserve from issuing a central bank digital currency (CBDC) or using it to control monetary policy.

"Today, I introduced the CBDC Anti-Surveillance State Act to halt efforts of unelected bureaucrats in Washington, DC from stripping Americans of their right to financial privacy," Emmer wrote in a tweet on February 22, listing three points the legislation focuses on.

There are, said Emmer: 

1. prohibiting the Fed from issuing a CBDC directly to anyone;

2. baring the Fed from using a CBDC to implement monetary policy and control the economy;

3. requiring the Fed's CBDC projects to be transparent to Congress and the people. 

(By Sead Fadilpašić)

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