House Approves Bill Limiting Fed’s Role in Digital Currency

The House Financial Services Committee has approved the CBDC Anti-Surveillance State Act, limiting the Federal Reserve’s ability to issue a Central Bank Digital Currency (CBDC). The bill passed with a narrow 27-22 vote, reflecting concerns over government control of financial surveillance tools and potential privacy infringements. Rep. Tom Emmer, who sponsored the bill, emphasizes the need to prevent a CBDC from becoming a tool for government-controlled surveillance. He contrasts it with decentralized cryptocurrencies like Bitcoin, highlighting their independence from central banks.