Anti-CBDC bill could curb Fed’s power over digital dollar, sponsor says
The US House of Representatives will be in recess for the month of August, but the Senate still has a week of business to address two crypto bills before breaking.
Representative Tom Emmer, the sponsor of the US House’s Anti-CBDC Surveillance State Act, said the bill, if passed, would significantly limit the Federal Reserve’s ability to issue a central bank digital currency.
In a Friday press call, the Minnesota representative spoke on the progress of the Anti-CBDC bill, which he introduced in the House in March.
“If [the Fed] could emulate cash, then the law is going to afford them that ability, but right now, they can’t,” said Emmer on the US government issuing a CBDC.