Yesterday Senator Ted Cruz backed a Bill to block the launch of a retail central bank digital currency (CBDC) in the United States. He was joined by four other Republican Senators: Hagerty, Scott, Budd and Braun. The ‘CBDC Anti-Surveillance State Act’ was introduced by Congressman Emmer, the Republican party whip. It passed a vote of the House Financial Services Committee late last year.
This is the third time Cruz has introduced legislation to block a CBDC. He did so in 2022 and 2023 with Bills that were even shorter than the latest two-pager.
The Bill mainly targets retail CBDC. However, its loose wording might also catch a wholesale CBDC.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
