House Passes Anti-CBDC Bill to Prevent Financial Surveillance of Americans

Unlike decentralized cryptocurrencies, a CBDC is a digital version of a currency that is designed, issued, and controlled by a government, Rep. Tom Emmer said.

The seal of the Federal Reserve Board as its appears outside the Fed's William McChesney Martin Building in Washington, on March 13, 2023. Alex Wong/Getty Images

The U.S. House of Representatives passed a bill preventing the government from issuing a Central Bank Digital Currency (CBDC), which could enable surveillance similar to that employed by the Chinese Communist Party (CCP).

HR 5403 or the “CBDC Anti-Surveillance State Act” was introduced by Rep. Tom Emmer (R-Minn.) in September.