US lawmakers have drafted a bill that would ban the Federal Reserve from issuing a central bank digital currency (CBDC).
The document was sponsored by Republican French Hill of Arkansas and Democrat Jake Auchincloss of Massachusetts. The Mint Power Act was the first bipartisan initiative to ban the digital dollar.
“Americans have a right to financial privacy. That’s why I’m proud to stand with the gentleman from Massachusetts to defend civil liberties and the dollar’s role as the world’s reserve currency, and to prevent state surveillance of ordinary citizens,” Hill said.
The politician added that the law does not reflect the interests of a particular party and is designed to protect the United States from “abuse by the government.”
In May, Texas senators introduced a similar bill banning the use of the digital dollar in the state.
In parallel, Florida has already adopted a document against the CBDC, which was signed by Governor Ron DeSantis. In his opinion, the law “will protect residents from the administration [главы государства Джо] Biden who wants to weaponize the financial sector.”
Recall that in April, Robert Francis Kennedy Jr., nephew of the 35th US President John F. Kennedy, also criticized the CBDC. He called such assets “the highest mechanism of social monitoring and control.”
Later, the author of the bestseller “Rich Dad Poor Dad” and entrepreneur Robert Kiyosaki compared the digital currency of the Central Bank with the character of George Orwell’s novel “1984” and called for investing in the first cryptocurrency.
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US lawmakers have drafted a bill that would ban the Federal Reserve from issuing a central bank digital currency (CBDC).
The document was sponsored by Republican French Hill of Arkansas and Democrat Jake Auchincloss of Massachusetts. The Mint Power Act was the first bipartisan initiative to ban the digital dollar.
“Americans have a right to financial privacy. That’s why I’m proud to stand with the gentleman from Massachusetts to defend civil liberties and the dollar’s role as the world’s reserve currency, and to prevent state surveillance of ordinary citizens,” Hill said.
The politician added that the law does not reflect the interests of a particular party and is designed to protect the United States from “abuse by the government.”
In May, Texas senators introduced a similar bill banning the use of the digital dollar in the state.
In parallel, Florida has already adopted a document against the CBDC, which was signed by Governor Ron DeSantis. In his opinion, the law “will protect residents from the administration [главы государства Джо] Biden who wants to weaponize the financial sector.”
Recall that in April, Robert Francis Kennedy Jr., nephew of the 35th US President John F. Kennedy, also criticized the CBDC. He called such assets “the highest mechanism of social monitoring and control.”
Later, the author of the bestseller “Rich Dad Poor Dad” and entrepreneur Robert Kiyosaki compared the digital currency of the Central Bank with the character of George Orwell’s novel “1984” and called for investing in the first cryptocurrency.
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Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
