American Senator Ted Cruz foot A draft law on March 26 to ban the Federal Reserve of the issuance of a digital currency for the Central Bank (CBDC). The “Anti -Monitoring Law of CBDC” will prevent the Federal Reserve from providing certain products or services directly to American individuals, which is a major component in any CBDC.
The Republican Law in Texas can be considered a draft law associated with the Republican Republican Republican State, Tom Emmar, to combat CBDC, which was re -submitted on March 6. The accompanying bill is part of the legislation that is formulated similarly or identical to another draft law, and it has been presented in the other Congress Chamber.
Both projects mention that the embargo should not include any currency -denoted in the dollar open, permission, especially and “maintains privacy protection for the currencies of the United States and the material currency.”
Senator Ted Cruz Bill CBDC. source: Ted Cross
Since 2020, the Federal Reserve has explored a digital version of the US dollar. According to the CBDC follower, at least four research projects are made by various federal reserve entities.
Cruz has been an audio opposition to CBDCS at least 2022, when he made legislation that would prohibit the Federal Reserve of CBDC directly to the consumer. He continued the order with a similar legislation in 2023, and in 2024 he sought to prevent the then President Joe Biden's attempt to create CBDC.
Emeer said in a hearing in Congress that “CBDC technology is not American by its nature” and warned that allowing the unleashed Beruvanis to version CBDC “can increase the American way of life.”
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Critics condemns cbdcs
While CBDCS has some alleged benefits, technology critics have long said that the digital currency that was issued directly to citizens can be a violation of privacy and overcoming the government.
However, some countries and regional governments still explore this technology. While European consumers do not show great interest in CBDCS, legislators in the region are pushing to create a digital euro. Israel has released a preliminary design to create a digital shekel, and according to what was reported, Iran will launch CBDC in the near future.
In the United States, CBDC was created with more resistance. President Donald Trump has ever pledged to allow the country CBDC in the country, and Jerome Powell, head of the Federal Reserve, said that the Federal Reserve will not issue a biological diversity agreement during its responsibility.
Although CBDCs can update old financial systems and make them more efficient, they will also focus the money width.
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