Well, here we go again. The U.S. House Financial Services Committee, in a move that’s either heroic or hilariously paranoid, passed the Anti-CBDC Surveillance State Act. Introduced by House Majority Whip Tom Emmer (R-Minn.), this bill is like a digital moat around your wallet, keeping the Federal Reserve’s grubby hands off your hard-earned cash. No CBDCs for monetary policy, no direct services to individuals—just good ol’ American freedom, or so they say.
The CBDC Bill’s Purpose and Provisions
At its heart, this bill is about keeping the government out of your business. Emmer, who’s about as fond of CBDCs as a cat is of water, argues that this legislation is all about privacy, sovereignty, and free markets. Because, you know, nothing says “freedom” like a bunch of politicians arguing over digital money. Emmer’s big fear? That the government could use CBDCs to spy on your every transaction, turning your wallet into a surveillance tool. “This bill keeps digital currency policy in the hands of the people,” he declared, as if the people had been clamoring for this all along.
Background and Prior Legislation
This isn’t Emmer’s first rodeo. He tried this back in 2023 with H.R. 5403, which made it through the House but got stuck in the Senate like a bad penny. Now, with H.R. 1919, he’s back at it, riding the wave of CBDC paranoia that’s sweeping the nation. Because nothing says “progress” like rehashing old bills, right?
Opposition and Criticism
Not everyone’s on board, of course. Rep. Maxine Waters, for one, thinks this bill is a one-way ticket to obsolescence. She argues that banning CBDCs could leave the U.S. in the digital dust, losing its status as the world’s reserve currency. And let’s not forget the Atlantic Council’s CBDC tracker, which shows 134 countries exploring CBDCs. But hey, who needs global relevance when you’ve got privacy, right?
The Bill’s Alignment with Broader Policy Trends
This bill fits snugly into the right-wing playbook, aligning with Trump’s executive order to protect citizens from the “dangers” of CBDCs. Even Federal Reserve Chairman Jerome Powell has said he won’t pursue a CBDC under his watch. And Treasury Secretary Scott Bessent? He’s not convinced either, saying there’s “no reason” for the U.S. to adopt a CBDC. Because, you know, the government’s track record with technology is so stellar.
Stablecoin Regulation and Financial Services Committee Actions
But wait, there’s more! The committee also advanced a bill to regulate stablecoins, because apparently, they’ve got a lot of free time. The “Stablecoin Transparency and Accountability for a Better Ledger Economy” bill aims to make dollar-pegged stablecoins more competitive globally. Because nothing says “innovation” like more regulation.
Whats next for CBDC?
So, what’s next? The Anti-CBDC Surveillance State Act is moving forward, but it’s got a long road ahead. It’ll face challenges in the House and Senate, especially from those who see CBDCs as the future of finance. Will the U.S. join the global CBDC trend or go its own way? Only time will tell. But one thing’s for sure: this debate is far from over. 🍿
Read More
- Clash Royale Best Boss Bandit Champion decks
- Ethereum’s Golden Cross: $4,000 Rally? Hold Your Breath!
- Kingdom Come: Deliverance 2 Gets Trial Experience On PS Plus Premium
- ESPN Might Drop Doris Burke From NBA Broadcast Team Next Season
- Chaos Zero Nightmare Combatant Tier List
- Kingdom Rush Battles Tower Tier List
- RAVEN2 redeem codes and how to use them (October 2025)
- Stocks stay snoozy as Moody’s drops U.S. credit—guess we’re all just waiting for the crash
- Millionaire Chicken Heir Johnny Ingham and Wife Rey Welcome Their First Baby!
- The Best Movies of 2025 So Far
2025-04-03 15:24