US Congressman Warren Davidson wants to abolish and criminalize CBDCs

Republican Representative Warren Davidson opposes central bank digital currencies (CBDCs) and urges Congress to "quickly prohibit and then criminalize any attempt to design, build, develop, test or deploy a CBDC."

In a Twitter post he accused the U.S. Federal Reserve (Fed) of designing "the financial equivalent of the Death Star." "Good money should enable permissionless peer-to-peer transactions," he added. Davidson wrote after learning of a Fed job posting. In it, the central bank is looking for a "senior crypto architect" to work on a CBDC project.

Other Republicans in the US are also speaking out against digital central bank currency. Including U.S. presidential candidate Ron DeSantis. The digital dollar would jeopardize privacy and economic freedom, limit personal rights and slow down innovation. U.S. Senator Ted Cruz of Texas regularly files bills to prevent the Fed from developing a digital dollar.

Governments and financial institutions around the world are researching digital central bank money. Europe is currently discussing the introduction of a digital euro.