- Congressman Tom Emmer spoke against Central Bank Digital Currencies (CBDCs) in the House of Representatives, warning they are surveillance tools that threaten the American way of life.
- Emmer compared CBDCs to decentralized cryptocurrencies like Bitcoin, stating that CBDCs are government-controlled and could give the federal government significant transaction-level data and the ability to suppress politically unpopular activity.
- Emmer introduced the “CBDC Anti-Surveillance State Act” to ensure that any potential CBDC maintains the attributes of cash, such as being permissionless and private, and guarantees individual sovereignty.
U.S. Congressman Tom Emmer recently spoke out against central bank digital currencies (CBDCs) in a speech to the House of Representatives. He warned that CBDCs pose a major threat to privacy and civil liberties if not properly designed.
Emmer Compares CBDCs to Decentralized Cryptocurrencies
In his speech, Emmer contrasted CBDCs with decentralized cryptocurrencies like Bitcoin. He explained that unlike decentralized cryptocurrencies, CBDCs would be controlled and monitored by the federal government.
Emmer stated that “a CBDC is a government-controlled, programmable money that, if not designed to be just like cash—open, permissionless, and private—will give the federal government significant transaction-level data and ability to suppress politically unpopular activity.”
Concerns Over Government Surveillance and Control
The congressman expressed concerns that the Biden administration wants to use CBDCs as “a surveillance tool” to monitor citizens, similar to how China uses its digital currency.
Emmer warned that the Federal Reserve has made CBDCs a priority, proving the administration’s desire to trade away privacy rights for greater government control.
Proposed Legislation to Protect Privacy
However, Emmer clarified he is not trying to prevent CBDCs entirely. Instead, he presented the “CBDC Anti-Surveillance State Act” to ensure any digital currency maintains the privacy protections and individual freedoms of physical cash.
The proposed legislation aims to guarantee CBDCs remain permissionless and private, preventing the government from using them as tools for mass surveillance and control.
