Tom Emmer has reintroduced a bill aimed at prohibiting the use and issuance of central bank digital currencies (CBDCs) in the US.
Reintroduction of the bill
On March 6, Tom Emmer announced the reintroduction of the Anti-Surveillance State Act in Congress. This initiative is aimed at preventing federal banks from using digital dollars or similar digital assets due to financial privacy concerns. The bill passed the House in May 2024 and is awaiting consideration in the Senate Banking Committee.
The White House stance and other countries
President Donald Trump previously signed an executive order banning the creation and use of CBDCs in the US. Meanwhile, other countries continue to develop their digital currencies. On March 3, Israel released a preliminary design for a digital shekel, and the European Central Bank is preparing to issue a digital euro.
Future crypto policies in the US
On March 7, a crypto summit will be held at the White House, attended by Trump and other leaders. The president is expected to present further details on the proposed US crypto reserve. Issues related to CBDCs and digital assets may also be discussed at the summit. Approximately 100 Republicans have already supported Emmer's bill, but it remains unclear whether specific legislation will be passed amid Trump's efforts to expand his authority through executive orders.
Tom Emmer's bill against CBDCs has become a crucial part of discussions about the future of financial technology in the US. Despite opposition to CBDC development in the country, interest in digital currencies remains both domestically and internationally.
