Anti-CBDC bill passes first obstacle

A bill against the introduction of a central bank digital currency (CBDC) has passed its first hurdle in the US Congress.

The "CBDC Anti-Surveillance State Act" has passed the Finance Committee. On Twitter, Tom Emmer spoke of a "historic step in defense against an ever-expanding government surveillance state." The Republican senator is considered the leader of the bill, which was introduced in Congress earlier this year.

This bill is intended to stop the introduction of a digital central bank currency. According to Emmer, a CBDC is a "surveillance tool that would be used to undermine the American way of life."

"In short, a digital central bank currency is a government-controlled, programmable means of payment that, if not designed like cash, could give the government the ability to control and limit Americans' transactions."

The bill has the support of 60 members of Congress and industry groups such as the Blockchain Association, Emmer said, and now goes to the House of Representatives for a vote.