Lawmaker Reintroduces Anti-CBDC Surveillance State Act to Block Digital Dollar

Congressman and Majority Whip Tom Emmer (R-MN) announced on March 6 that he has reintroduced the Anti-CBDC Surveillance State Act, a bill designed to prevent the federal government from creating a central bank digital currency (CBDC) that could compromise Americans’ financial privacy.

The legislation, which has gained the support of 100 Republican cosponsors, seeks to ensure that a CBDC cannot be used as a tool for government surveillance or control over financial transactions. Emmer warned of the risks associated with a government-issued digital currency, stating:

If not designed to be open, permissionless, and private – resembling cash – a government-issued CBDC is nothing more than an Orwellian surveillance tool that would be used to erode the American way of life.

Originally introduced in January 2022, the Anti-CBDC Surveillance State Act has now been brought forward multiple times, with this latest version representing another attempt to block CBDC development.

The bill specifically prohibits the Federal Reserve from issuing a CBDC directly to individuals, preventing it from becoming a retail bank with access to personal financial data. It also stops the Fed from using a CBDC to implement monetary policy and bars the Treasury Department from directing the Fed to create one.

Emmer emphasized the urgency of codifying protections against CBDCs, referencing President Donald Trump’s stance on the issue. He stressed:

President Trump understands the dangers CBDCs present and has already issued an executive order prohibiting federal agencies from exploring one. Now, we must codify this executive order in law and permanently ban their development so a future administration cannot weaponize this technology against Americans.

The bill previously passed the U.S. House of Representatives during the 118th Congress and continues to be a focal point for Republicans concerned about financial privacy. Supporters argue that a CBDC could grant the federal government unprecedented access to citizens’ financial activities, allowing it to monitor transactions or restrict politically disfavored activities. Critics of the bill, however, contend that a well-structured CBDC could modernize the financial system and enhance payment security without threatening individual freedoms. As discussions over digital currency and financial privacy intensify, the fate of the legislation will depend on legislative negotiations and public opinion.

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