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Digital Currency Threatens Liberty; Bills in Congress Would Prevent It – The New American

https://thenewamerican.com/digital-currency-threatens-liberty-bills-in-congress-would-prevent-it/

Members of Congress are seeking to enact legislation to prevent the Federal Reserve from issuing a digital currency, which would decimate personal privacy and implement a full-fledged surveillance state.

H.R. 6415 is sponsored by Representative Tom Emmer (R-Minn.) and cosponsored by Representative Byron Donalds (R-Fla.), while S. 3954 is sponsored by Senator Ted Cruz (R-Texas) and cosponsored by Senators Mike Braun (R-Ind.) and Chuck Grassley (R-Iowa).

Both bills’ texts are short and straightforward. S. 3954 — whose text is similar to H.R. 6415 — states:

No Federal reserve bank may offer products or services directly to an individual, maintain an account on behalf of an individual, or issue a central bank digital currency directly to an individual.

A digital currency is a major and imminent threat to Americans’ liberty and privacy. On March 9, 2022, President Joe Biden signed an executive order that, among other actions, instructed the federal government and the Federal Reserve to explore the creation of a U.S. Central Bank Digital Currency (CBDC), and to draft a “legislative proposal” for Congress to enact.