Battle Against CBDCs: Congress Moves to Stop the Digital Dollar
A proposed bill, the No CBDC Act, seeks to ban a government-controlled digital currency, warning it could enable financial surveillance and force spending, similar to China’s digital yuan.
Introduced by Senator Mike Lee and backed by Senators Ted Cruz and Rick Scott, the bill would permanently prevent the Federal Reserve from issuing a central bank digital currency. Supporters argue it protects financial privacy and prevents government overreach, while critics warn a CBDC could track every transaction and undermine free enterprise.
Representative Andy Ogles, co-sponsoring the House version, calls CBDCs a tool for government control, vowing to stop their implementation.
Clever Robot News Desk 10th February 2025
