Tom Emmer, a Republican representative in the US House of Representatives, has reintroduced a bill to prevent the creation of Central Bank Digital Currency (CBDC). The bill, supported by 100 Republican representatives, aims to prevent the use of CBDC as a tool for government surveillance of citizens’ financial transactions. Emmer warned that if CBDC is not designed openly, without permission, and privately, it could become a tool for surveillance reminiscent of George Orwell’s style. The bill prohibits the Federal Reserve from issuing CBDC directly to individuals and hinders its use for implementing monetary policies. Supporters of the bill argue that CBDC can allow the government to control citizens’ financial activities, while critics argue that a well-designed CBDC can modernize the financial system without threatening individual freedoms.
