The CBDC Anti-Surveillance State Act, which aims to prevent "unelected bureaucrats in Washington" from establishing a central bank digital currency (CBDC), has moved one step closer to enactment after passing the House Financial Services Committee.

According to a press statement sent by the bill's author, Representative Tom Emmer, the CBDC Anti-Surveillance State Act was approved out of committee and favorably reported to the House floor on September 20. That means the bill will now be put to a vote in Congress.

Emmer emphasized that the bill has already received the support of 60 members of Congress. In his remarks following the committee's decision, Emmer emphasized the dangers of state control over currency and its incompatibility with American values:

“American values. American values. This is what the future global digital economy needs. If not open, permissionless, and private — just like cash — a central bank digital currency is nothing more than a CCP [Chinese Communist Party]-style surveillance tool that can be weaponized to oppress the American way of life.”

On September 14, Emmer and 49 original co-sponsors reintroduced the CBDC Anti-Surveillance State Act in the US House of Representatives. It was formally introduced to Congress for the first time in February 2023.

The bill includes provisions that would limit the Federal Reserve from issuing CBDCs to individuals and prohibit the Fed from using any CBDC to effectuate monetary policy.

Emmer described digital assets as a "sleeper issue" in US politics, both at the state and federal levels, in a recent interview with Cointelegraph. According to Emmer, there is a generational difference in the United States, and residents could push back on measures that could stifle the digital sector, "flushing out" technologically illiterate officials.

Sources:

https://cointelegraph.com/news/us-anti-cbdc-bill-moves-closer-to-passing