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US Senators Introduce Bill to Block Issuance of CBDCs
On February 26, United States Senators Rick Scott and Ted Cruz, along with other members of the Senate, proposed a bill named the “CBDC Anti-Surveillance State Act”, which aims to ban the introduction of central bank digital currencies (CBDC) in the country. The bill comes amidst a growing debate over the role of CBDCs in the financial system and its implications for individual privacy and government surveillance.
US Senators Oppose Biden’s CBDC Plan
According to an official announcement, the senators filed the legislation to halt the Joe Biden administration from moving forward with launching the CBDC as planned.
In 2022, President Joe Biden signed an executive order aimed at supporting the research and development of CBDCs. This directive instructed the US government to evaluate the technological infrastructure and capacity requirements necessary for a potential introduction of the digital assets, wi
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