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Published 2 months ago

GOP senators propose ban on central bank digital currencies

  • The CBDC Anti-Surveillance State Act aims to restrict the Federal Reserve from issuing a digital currency directly or indirectly to individuals.
  • Conservative lawmakers fear a digital dollar could enable government surveillance on citizens' financial data and influence monetary policy.
  • Legislation proposed by Senator Cruz and advocacy groups seeks to prohibit the Federal Reserve from issuing a CBDC without authorization from Congress.
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