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US Congressman Tom Emmer is up in arms while on the floor of the House of Representatives, lambasting Central Bank Digital Currencies as surveillance mechanisms. His most recent address, bolstered by the reintroduction of the “CBDC Anti-surveillance State Act,” emphasizes the need to protect privacy and freedom relating to physical cash and decentralized cryptocurrencies like Bitcoin. Digital currencies are highly concerning to them since they give governments more control over financial transactions and, in turn, more personal freedoms.
He further went on to stress on Bloomberg and posted a video from his official X account, noting the fact that Bitcoin has a nature that will always be open, permissionless, and private on its own. One worrying thing with CBDCs, though, is that it unlocks the ability for governments to monitor and control the economic activity in the same type that authoritarian regimes already do.
Altogether, his moves are the epitome of a high point in the broader debate about the future state of monetary systems in the United States. Emmer’s legislative push against CBDCs is emblematic of a much broader fight for financial sovereignty and privacy, underlining the value of decentralized digital assets over government-controlled currencies. High profile moves in the wider debate over future monetary systems in the United States.
