Dear Friend, 

Following the passage of President Trump’s One Big Beautiful Bill, the House of Representatives is preparing to take up our legislation to protect Americans’ right to financial privacy.

Watch: Congressman Emmer discusses the dangers of CBDCs

Countries around the world have begun designing and issuing digital versions of their currency, often described as a central bank digital currency or CBDC. While CBDCs are often marketed as convenient and efficient, their ability to destroy Americans’ financial privacy cannot be overlooked.

A CBDC is a digital form of sovereign currency designed and issued by a government, which transacts on a digital ledger controlled and monitored by that government. Simply put, a CBDC is a government-controlled, programmable currency that, if designed without the privacy protections of cash, would be weaponized by the federal government to monitor and restrict Americans’ individual transactions.

This isn’t just alarming, it’s downright un-American. We have already seen foreign governments weaponize their financial systems against their citizens including: 

• In China, the Chinese Communist Party is using a CBDC to track and restrict citizens spending. The data is being used to develop a social credit system that rewards or punishes individuals based on their spending behavior.
• In Canada, the former Trudeau Administration froze the bank accounts of citizens involved in the 2022 trucker protests. 
• In Russia, opponents of Vladimir Putin have had their assets frozen and seized.

If created without the privacy protections of cash, a government-issued CBDC is nothing more than an authoritarian surveillance tool that would be used to undermine our financial system and the American way of life.

We’re not going to let that happen. President Trump recognizes the dangers that CBDCs represent and has already issued an executive order prohibiting agencies from developing one. Now, we must codify this executive order in law by passing our Anti-CBDC Surveillance State Act which permanently bans CBDC development and ensures that future administrations are unable to weaponize this insidious technology against Americans.

We do not make trade-offs with Americans’ right to privacy. While we are grateful that this legislation passed the U.S. House of Representatives last Congress, we are looking forward to seeing it signed into law under President Trump.

Sincerely,