Saturday, December 14, 2024

Tag: US Legislators Propose Ban on Central Bank Digital Currency

US Legislators Propose Ban on Central Bank Digital Currency

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    by Jose Nino, Big League Politics:

    Minnesota Congressman Tom Emmer recently introduced a bill that would ban the Federal Reserve from issuing a central bank digital currency (CBDC) directly to anyone, per a report by Bitcoin Magazine.

    The bill is titled the “CBDC Anti-Surveillance State Act” and outlines that “Except as specifically authorized under this Act, a Federal Reserve bank may not offer products or services directly to an individual, or maintain an account on behalf of an individual, or issue a central bank digital currency directly to an individual.” The bill adds that “The Board of Governors of the Federal Reserve System and the Federal Open Market Committee may not use any central bank digital currency to implement monetary policy.”