The US House of Representatives recently passed a bill to prohibit the Federal Reserve from issuing a Central Bank Digital Currency (CBDC) without explicit congressional authorization. Some representatives, including Majority Whip Tom Emmer (R-MN), believe a CBDC would pose significant risks to financial privacy. While the concern is certainly warranted, the government’s already-existing ability to surveil and censor transactions means that banning a CBDC does little to promote financial privacy.
CBDC Ban Does Little to Bolster Financial Privacy
CBDC Ban Does Little to Bolster Financial…
CBDC Ban Does Little to Bolster Financial Privacy
The US House of Representatives recently passed a bill to prohibit the Federal Reserve from issuing a Central Bank Digital Currency (CBDC) without explicit congressional authorization. Some representatives, including Majority Whip Tom Emmer (R-MN), believe a CBDC would pose significant risks to financial privacy. While the concern is certainly warranted, the government’s already-existing ability to surveil and censor transactions means that banning a CBDC does little to promote financial privacy.