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Hi,
You may have missed this in the news, but earlier this year President Biden issued an executive order to explore “central bank digital currency”1 that could potentially let the government spy on your transactions and how you manage money. Yet again they are prepared to give the Federal Reserve way too much control.
This is why Congress must pass the ECASH Act! It would ensure privacy protections are baked into any digital currency!
The ECASH act directs the U.S. Treasury to develop a pilot digital dollar that would replicate the privacy features of physical cash. This would promote financial inclusion, maximize consumer protection, and allow the government to better regulate the wild west of cryptocurrencies.2
While cryptocurrencies were booming – and busting – this year, the federal government has been exploring technologies to get in on the game. They want a central bank digital currency. RED FLAG!!! A central bank digital currency would give them the ability to follow and track user transactions and monitor people’s wallets. So let’s take the Central Bank out of it.
Instead, Pass the ECASH ACT and ensure privacy protections are fundamental to any future United States digital currency.
If digital currency is the future of money, we need to make sure that the real world people who spend and save it – folks like you and me – will be protected from government spying on our personal lives. We also need to make sure that the government is equipped to regulate and prevent these mega crypto-scams which have exploited millions and made a small group of people EXTREMELY rich.
The ECASH Act is set to do both of these things. Tell Congress it’s time to pass the ECASH act!
Sign the petition: Tell Congress and President Biden, no CBDC without sweeping privacy protections!
Thanks for taking action,
Miguel and the team at Demand Progress
Sources:
1. NBC News, “Biden takes big step toward government-backed digital currency,” March 9, 2022.
2. The ECASH Act, “Digital Privacy/Public Money,” March 28, 2022.
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