A Republican representative and the House majority whip, Tom Emmer, is promoting his Anti-CBDC Surveillance State Act, which has passed the House but is yet to receive full Senate approval. Two lawmakers are calling for a permanent ban on US central bank digital currency (CBDC) to be included in the 21st Century Road to Housing Act. Amid the ongoing debate on CBDCs and their potential impact, Emmer aims to block the Federal Reserve from creating or issuing a CBDC.
Tom Emmer , the House majority whip, is also advocating for his Anti-CBDC Surveillance State Act, which has passed the House but has yet to pass the Senate .
A pair of Republican lawmakers is calling for a permanent ban on a US central bank digital currency to be enshrined in the 21st Century ROAD to Housing Act, as the measure is expected to come up for a vote in the US House this week.concerns revisions to federal housing programs but also includes a section banning the Federal Reserve System or any Federal Reserve bank from issuing a CBDC or similar instrument until Dec. 31, 2030. The amended legislation is expected to go to a vote in the House this week.
If it passes, the bill will return to the Senate, where it could undergo further amendments. The legislation must pass both chambers before it can go to President Donald Trump’s desk to be signed into law.the benefits of CBDCs include the potential to expand financial inclusion for populations with limited access to the financial system. Drawbacks include the currency’s potential to infringe on privacy and open new avenues for government corruption, among other concerns.
US Representative Warren Davidson, a member of the House, also supported a permanent CBDC ban as the “2030 sunset works a pre-launch development period. ” “The US House of Representatives could deliver a unifying win this week with bipartisan housing affordability legislation.
Instead, they currently plan to deliver a go-live date for Central Bank Digital Currency, using housing as the Trojan Horse,” he added.only three countries that have officially deployed a CBDC: Nigeria, Jamaica, and the Bahamas, while 41 others are in the pilot phase. Meanwhile, Tom Emmer, the House majority whip, one of the top Republican leadership positions in Congress, is advocating for his Anti-CBDC Surveillance State Act.the House on July 17 but has yet to receive full Senate approval.
It aims to block the Federal Reserve from creating or issuing a CBDC.
“The Chinese Communist Party uses a central bank digital currency to surveil and control its people. If the US adopted its own CBDC, privacy and economic freedom as we know it would cease to exist,” he said.
“My Anti-CBDC Surveillance State Act BANS our government from ever creating this Orwellian tool. The House passed it. Now, the Senate must act. ”the “No CBDC Act” as a standalone bill prohibiting the Fed or Treasury from issuing a CBDC. However, it stalled in Congress. Editorial Policy
Tom Emmer House Majority Whip Anti-CBDC Surveillance State Act House Senate Federal Reserve System CBDC Federal Reserve Bank House Majority Whip CBDC Ban House Majority Whip Republican Lawmakers Federal Reserve System Central Bank Digital Currency NIGERIA JAMAICA BAHAMAS Pilot Phase Congress House House Of Representatives Unifying Win Trojan Horse Housing Legislation Housing Affordability Legislation Bipartisan Central Bank Digital Currency Dreamers Act Bipartisan Senate Bill Republicans Democrats Government Corruption Privacy Infringement Financial Inclusion Pre-Launch Development Period United States
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