Ted Cruz, the US state senator of Texas, has introduced a bill to block the central bank digital currency (CBDC), which is planned to be issued by the US Federal Reserve (FED).
Bitcoin supporter Senator Ted Cruz Tuesday, March 21 in a statement on the day, FED announced that it has submitted a new bill to block the CBDC, which is planned to be enacted by Cruz’s main reasons for taking this step include the U.S. government’s CBDCs. as a financial surveillance tool. concerns were raised.
Claiming that the federal government does not have the authority to unilaterally establish a CBDC, Cruz said that if such a project is implemented, financial freedoms of citizens will be hit. And a financial dystopia implied that it will be created. If a government-controlled CBDC goes into effect, what the US people do your every financial transaction will be traceable and traceableEmphasizing that, Cruz gave the impression that he would do everything in his power to prevent it.
Cruz included the following bottom lines in his statement, stating that it is more important than ever for the US to protect financial privacy, maintain the dominance of the dollar and develop innovation with its policy regarding digital currencies:
CBDCs that fail to adhere to these three core principles could allow an organization like the Fed to transform itself into a retail bank, collect personally identifiable information about users and monitor their transactions indefinitely.
Cruz’s anti-CBDC bill from Republican Senators Indiana Mike Brown and from Iowa Chuck Grassley was supported by Both senators stated that they believed that the CBDC, which was launched with this logic, would be used as a surveillance tool.
Cruz, Braun, and Grassley March 30, 2022He introduced a similar bill to block the direct marketing of CBDCs to individuals in . Despite 1 year passed, no result has been obtained yet..
On the other hand, the state of Texas, where Ted Cruz is a senator, is working to bring greater freedom to Bitcoin miners and users. Member of the Texas House of Representatives Cody Harris In a proposal published on March 21, Bitcoin promote within the state And to be secured included important articles.