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WASHINGTON, D.C. – U.S. Sen. Ted Cruz (R-Texas) introduced the Anti-CBDC Surveillance State Act, legislation that prohibits the Federal Reserve from issuing a Sen. Ted Cruz (R-Texas) today announced he has introduced legislation to block the Federal Reserve from issuing a central bank digital currency. The bill is cosponsored WASHINGTON, D.C. – U.S. Sen. Ted Cruz (R-Texas), Ranking Member of the Senate Committee on Commerce, Science, and Transportation, today introduced Sen. Ted Cruz (R-Texas) introduced a bill on Tuesday aimed at blocking the Federal Reserve from creating a consumer-based central bank digital currency, or CBDC. On March 26, Senator Ted Cruz introduced the Anti-CBDC Surveillance State Act, a bill designed to prohibit the Federal Reserve from issuing a central bank digital US Senator Ted Cruz introduced a bill on March 26 to prohibit the Federal Reserve from issuing a central bank digital currency (CBDC). The “Anti-CBDC Surveillance The CBDC Anti-Surveillance State Act would prohibit the Federal Reserve from issuing a CBDC directly to anyone, ensuring the Federal Reserve can’t mobilize itself into

Texas Senator Introduces Bill to Ban Federal Reserve from Adopting a CBDC

A significant development in the debate over digital currencies has unfolded in Washington, D.C. U.S. Sen. Ted Cruz (R-Texas) introduced a bill on Tuesday aimed at blocking the Federal Reserve from creating a consumer-based central bank digital currency, or CBDC. The move highlights growing concerns about the potential impact of a CBDC on privacy and financial freedom.

Sen. Ted Cruz Introduces the Anti-CBDC Surveillance State Act

Sen. Ted Cruz (R-Texas) today announced he has introduced legislation to block the Federal Reserve from issuing a central bank digital currency. The bill is cosponsored and is officially titled the “Anti-CBDC Surveillance State Act.” This act represents a bold attempt to limit the Federal Reserve's power in the digital currency realm.

On March 26, Senator Ted Cruz introduced the Anti-CBDC Surveillance State Act, a bill designed to prohibit the Federal Reserve from issuing a central bank digital currency (CBDC). The “Anti-CBDC Surveillance State Act would prohibit the Federal Reserve from issuing a CBDC directly to anyone, ensuring the Federal Reserve can’t mobilize itself into a surveillance tool controlling citizens' finances.

Details of the Anti-CBDC Surveillance State Act

WASHINGTON, D.C. – U.S. Sen. Ted Cruz (R-Texas), Ranking Member of the Senate Committee on Commerce, Science, and Transportation, today introduced the Anti-CBDC Surveillance State Act, legislation that prohibits the Federal Reserve from issuing a direct-to-consumer CBDC. This is intended to prevent potential government overreach and maintain the current structure of financial institutions. U.S. Senator Ted Cruz introduced a bill on March 26 to prohibit the Federal Reserve from issuing a central bank digital currency (CBDC).

The core argument behind this legislation centers on the potential for a CBDC to be used as a tool for government surveillance and control over individual finances. Supporters of the bill believe it's crucial to safeguard financial privacy and prevent the creation of a system where the government can directly monitor and control citizens' spending habits.

Further updates on the progress of the Anti-CBDC Surveillance State Act will be provided as they become available. The legislation is expected to spark further debate on the future of digital currency regulation in the United States.

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