U.S. House Passes Bill Restricting Government Use of CBDCs

The U.S. House Financial Services Committee has voted to approve the Anti-CBDC Surveillance State Act (H.R. 1919), introduced by Majority Whip Tom Emmer. This legislation seeks to prevent the U.S. government from utilizing central bank digital currencies (CBDCs) for monetary policy purposes and restricts the Federal Reserve’s ability to provide services directly to individuals. The bill underscores a concern over potential government surveillance and aims to prioritize financial privacy, according to Emmer.