The purpose of Bill is to shield citizens from possible Federal Reserve financial surveillance.
Stay in the know on crypto by frequently visiting Crypto News Today
According to the Washington Examiner, the House of Representatives passed the CBDC Anti-Surveillance State Act by a vote of 216–192, thereby forbidding the Federal Reserve from creating a central bank digital currency (CBDC).
CryptoCaster Quick Check:
House Majority Whip Tom Emmer (R-MN) supported the bill, which attempts to protect financial privacy and stop government overreach. Because of the legislation’s concerns about the collection of personal financial data, the Fed is not allowed to distribute CBDCs to individuals directly or indirectly.
Additionally, it prohibits the central bank from implementing monetary policy through a CBDC.
Emmer has harshly denounced the possibility that a CBDC would imitate the surveillance instruments employed by autocratic governments, using the digital yuan as an illustration. He says the bill is essential to preserving individual sovereignty, privacy, and a free market that is competitive.
While conservative organizations like Heritage Action support the bill as a safeguard against government meddling in people’s personal finances, some Democrats contend that it could reduce the US’s competitive advantage in the development of digital currencies.
Prior to this, the Federal Reserve investigated the idea of a CBDC, conducting a trial with big banks and inviting public feedback to determine interest and concerns.
W
e hope you enjoyed this article. Before you move on, we invite you to consider supporting CryptoCaster’s journalism.
Billionaire owners like Elon Musk, Larry Fink (BlackRock), and Jamie Dimon (JP Morgan Chase) often have a strong influence on the hidden agendas surrounding the paradigm shift brought about by cryptocurrency and emerging Web3 technologies. CryptoCaster stands apart. We have no billionaire owner or shareholders to please. Our journalism is dedicated to serving the public interest in crypto development and institutional disruptions, not profit motives.
We avoid the pitfall of much U.S. and global media, which often resorts to false equivalence in the name of neutrality and retail consumer protection. While fairness and transparency guide everything we do, we recognize that there is a right and wrong stance in the fight against fiat global banking interests and the monetary reconstruction driven by the emerging crypto ecology.
When we report on issues like the FTX, Binance, and Ripple crises, we’re not afraid to name names and uncover the truth. As a crypto sentinel, we offer a fresh, outsider perspective on global monetary disruption—something often missing from the insular American and European media bubble.
CryptoCaster’s paywall-free journalism is accessible worldwide thanks to our unique reader-supported model. This is made possible by readers like you. Your support keeps us independent, free from outside influence, and accessible to everyone, regardless of their ability to pay for news and information.
We are grateful for the ongoing monetary support from our readers. If you haven’t yet considered supporting CryptoCaster, please consider contributing just once from $1 or more in Bitcoin (satoshi) or Ether, or even better, support us monthly with a bit more. Scroll further down this page to find CryptoCaster’s wallet addresses.
Thank you.
Kristin Steinbeck
Editor, CryptoCaster
Please Read Essential Disclaimer Information Here.
© 2024 Crypto Caster provides information. CryptoCaster.world does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.
Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
SOL – DLvdMu85dW6pZMhw2E4S3pp81qQQGpy5UcdTsFEFBu4b
LITECOIN – ltc1qxsgp5fykl0007hnwgl93zr9vngwd2jxwlddvqt
CRYPTOCASTER HEATMAP
