🚫CBDC Drama: Who Needs Big Brother When You’ve Got a Digital Dollar? 🤑

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Oh, the horror! Imagine a world where your every financial whim is tracked like a reality TV star’s meltdown. That’s the apocalypse some lawmakers are trying to dodge. 😱

On a day that will live in infamy (April2, to be exact), the US House Financial Services Committee gave a thumbs-up to the CBDC Anti-Surveillance State Act (H.R.1919). The vote? A nail-biting27-22. 🎉

This bill, brainchild of Minnesota’s own Tom Emmer, is essentially a “Nope!” to the Federal Reserve’s dreams of launching a digital dollar. No intermediaries, no monetary policy shenanigans. Just good old-fashioned cash. 💵

Why the fuss? Supporters claim a state-controlled digital currency is like giving the government a backstage pass to your wallet. Financial surveillance on steroids, anyone? 🕵️‍♂️

Emmer, the CBDC critic extraordinaire, warns that a digital dollar could morph into “programmable money.” Translation: Big Brother could cut you off if you’re caught buying too many MAGA hats or vegan cupcakes. 😂

“[…] A CBDC is government-controlled programmable money that, if designed without privacy protections of cash, could give the federal government unilateral authority to surveil Americans’ transactions and restrict politically unpopular activity,” Emmer dramatically declared in a press release.

With114 co-sponsors and cheerleaders like the American Bankers Association and the Blockchain Association, this bill’s got more fans than a K-pop band. 🎤

Let’s not forget former President Donald Trump’s televised moment from the Oval Office. An executive order banning CBDCs? Yep, it happened. Because nothing says “freedom” like keeping your cash under the mattress. 🛏️💰

Emmer’s previous attempt, H.R.5403, made it through the House but fizzled out before reaching the Senate. Because, you know, Congress moves at the speed of a sloth on tranquilizers. 🐌

Meanwhile, Congress is juggling two other stablecoin bills. The Stablecoin Transparency and Accountability for a Better Ledger Economy Act passed with flying colors (32-17). It’s all about making stablecoins as transparent as a reality star’s plastic surgery. 📜✨

And over in the Senate, the GENIUS Act is getting some love. Senator Bill Hagerty’s proposal is like a how-to guide for stablecoin issuers. Licensing, reserves, audits – it’s all there. It sailed through the Senate Banking Committee with an18-6 vote. 🚀

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2025-04-04 10:07