House Passes Bill Blocking Central Bank Digital Currency

The U.S. House of Representatives has voted to advance a bill preventing the creation of a central bank digital currency (CBDC). Rep. Tom Emmer’s CBDC Anti-Surveillance State Act (H.R. 1919) was passed by the Financial Services Committee with 27 votes in favor and 22 against. The bill aims to block the Federal Reserve from issuing or managing a digital dollar, prohibiting its use for monetary policy or implementation through intermediaries. It also raises concerns about potential financial surveillance and government control over personal spending.