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<div class="finbold">
 <p class="paragraph">Congressman Tom Emmer spoke in the House of Representatives against Central Bank Digital Currencies (CBDCs), warning they are surveillance tools. Emmer has been against the U.S. current CBDC project for a while and is now doubling down on his stance.</p>
 <p class="paragraph">Notably, the Congressman’s most recent appearance was in a video shared through his official X account on May 22. Before that, Tom Emmer gave an interview to <em>Bloomberg</em> on May 20, addressing a similar stance. According to him, the House of Republicans will take action to prevent the Federal Reserve from issuing a CBDC.</p>
 <p class="paragraph">In this most recent speech, the U.S. Congressman warned CBDCs “<a rel="noopener noreferrer nofollow" title="threaten" href="https://thebittimes.com/tag/threaten.html">threaten</a> to <a rel="noopener noreferrer nofollow" title="destroy" href="https://thebittimes.com/tag/destroy.html">destroy</a> the American way of life.” This was said while Tom Emmer presented the “CBDC Anti-Surveillance State Act.”</p>
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  <p class="paragraph">“With this legislation, we are going to stop unelected bureaucrats in the Biden Administration from using a Central Bank Digital Currency (CBDC), that <a rel="noopener noreferrer nofollow" title="threaten" href="https://thebittimes.com/tag/threaten.html">threaten</a>s to <a rel="noopener noreferrer nofollow" title="destroy" href="https://thebittimes.com/tag/destroy.html">destroy</a> the American way of life.”</p> <cite>– Tom Emmer</cite>
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    <p lang="en" dir="ltr">The Biden Administration has proven they are itching to trade Americans’ right to privacy for a CCP-style CBDC surveillance tool.<br><br>The @HouseGOP is not going to let that happen. pic.twitter.com/3QEoNbCSgO</p>— Tom Emmer (@GOPMajorityWhip) May 22, 2024
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 <h2 class="wp-block-heading" id="h-congressman-tom-emmer-cbdcs-must-be-like-cash">Congressman Tom Emmer: CBDCs must be like cash</h2>
 <p class="paragraph">Interestingly, Emmer continued his speech by comparing CBDCs with decentralized cryptocurrencies like Bitcoin (BTC) and mentioning the properties of the competing tools.</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“Unlike decentralized digital assets such as Bitcoin, CBDCs are a digital form of a sovereign currency designed, issued, and monitored by the Federal Government. In short, a CBDC is a government-controlled, programable money that, if not designed to be just like cash—open, permissionless, and Private (with a capital P)—it not only could it will give the federal government significant transaction-level data and individuals an ability to suppress politically unpopular activity.”</p> <cite>– Tom Emmer</cite>
 </blockquote>
 <p class="paragraph">The Congressman mentioned the example of China weaponizing its Central Bank Digital Currency against its citizens, besides other countries. Moreover, Tom Emmer warned about a Federal Reserve document highlighting CBDCs as one of their key duties moving forward.</p>
 <p class="paragraph">“In doing this, the Biden Administration has proven they are itching to trade Americans’ right to privacy for a CCP-style CBDC surveillance tool,” concluded the U.S. Representative.</p>
 <p class="paragraph">However, he explained that the “CBDC Anti-Surveillance State Act” will not prevent a CBDC from existing. The bill aims to ensure that the centralized monetary system can maintain cash’s attributes as permissionless and “Private (with a capital P)” and guarantee individual sovereignty.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/u-s-congressman-warns-cbdcs-threaten-to-destroy-the-american-way-of-life-tbt89329.html">https://thebittimes.com/u-s-congressman-warns-cbdcs-threaten-to-destroy-the-american-way-of-life-tbt89329.html</a></p>

U.S. Congressman warns CBDCs ‘threaten to destroy the American way of life’

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