This past week, H.R. 1919, the Anti-CBDC Surveillance State Act, passed through the House Financial Services Committee, and Senator Ted Cruz (R-Texas) introduced companion text in the Senate.
Heritage Action Key Voted this legislation last Congress and is excited to see it passing several legislative hurdles so quickly.
Specifically, it prohibits a Central Bank Digital Currency (CBDC) from being issued by the government or Federal Reserve — a crucial step in preserving individual rights from 21st century tyranny.
Although implementing policies that bring our financial system up to date technologically might sound promising, a CBDC would be programmable, traceable, trackable by the government, and allow for unprecedented control over our lives.