House Republicans Accuse Biden White House of Creating ‘Authoritarian-Style’ Digital Dollar

House Republicans Accuse Biden White House of Creating ‘Authoritarian-Style’ Digital Dollar
U.S. Dollar banknote in this illustration on July 17, 2022. Dado Ruvic/Illustration/Reuters
Andrew Moran
Updated:
0:00

President Joe Biden and his administration are attempting to develop an “authoritarian-style” and “surveillance-style” digital U.S. dollar through executive orders, warned House Majority Whip Tom Emmer (R-Minn.) on Feb. 28.

The four-term congressman recently introduced the CBDC Anti-Surveillance State Act to prohibit “unelected bureaucrats” in Washington from issuing a central bank digital currency (CBDC) that critics argue could diminish Americans’ financial privacy rights.
Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
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