Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ADOPTION NEWS»CBDC surveillance concerns spark legislative action
ADOPTION NEWS

CBDC surveillance concerns spark legislative action

By Crypto FlexsJanuary 3, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
CBDC surveillance concerns spark legislative action
Share
Facebook Twitter LinkedIn Pinterest Email

that much central bank digital currency (CBDC) The Anti-Surveillance State Act, introduced by Representative Tom Emmer, adds to the growing level of concern in the U.S. political environment about the risks posed by digital currencies issued by the U.S. government. It symbolizes that it exists. government. The passage of this bill highlights the need for conversation about the future of money in the digital age and the implications for government monitoring and financial privacy.

The CBDC Anti-Monitoring Act, reintroduced by Tom Emmer, also known as the Majority Whip, aims to address the potential for increased federal monitoring and control that may be possible with centrally issued digital currencies. A central bank digital currency (CBDC) is a government-issued digital currency that operates on a government-controlled digital ledger, unlike decentralized cryptocurrencies such as: Bitcoin. This raises concerns about the potential for such central oversight to monitor transactions and limit the freedom individuals have in their financial lives. The fact that Emmer plans to reintroduce the bill in 2023 after first proposing it in January 2022 highlights the importance of these issues in light of the rapidly changing digital finance sector.

The main purpose of the CBDC Anti-surveillance Act is to prohibit the Federal Reserve from issuing CBDC directly to the people. If this happens, the Fed will be transformed into a retail bank with access to personal financial data. The law also plans to prevent the Federal Reserve from using CBDCs to conduct monetary policy enforcement. The purpose of this plan is to ensure that government-issued CBDCs do not become government monitoring tools similar to activities seen in authoritarian countries unless they are designed to be open and private in a way that: Cash exists. Looking at the exact provisions of the bill, it is clear that the government is taking a cautious approach to welcoming the development of digital currencies, while also placing a strong emphasis on individual privacy and financial freedom.

The CBDC Surveillance State Act was initially supported by 50 co-sponsors, but has since gained increasing support, with 75 out of a total of 535 members of Congress supporting the bill itself. There is growing awareness and concern among politicians about the potential abuse of digital currencies for monitoring and control, which is highlighted by growing support for these currencies. The bill has drawn attention from a variety of political and business circles, focusing on the differences between a government-regulated digital currency model and an approach to protecting customer data while encouraging innovation based on free market principles. .

Image source: Shutterstock

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Ether Lee (ETH) tests major support for $ 4,453 after the highest rejection.

August 31, 2025

Bitcoin analysts bet on $ 200K after hints of Fed.

August 23, 2025

‘Self -transactions, dressed in capital layout’: The cryptocurrency financial craze divides the industry.

August 15, 2025
Add A Comment

Comments are closed.

Recent Posts

Web3 Enabler Announces Blockchain Payments V3.1 At Northeast Dreamin In Boston

September 4, 2025

Is XRP The Dark Horse Of The Cryptocurrency World? Earn 652 XRP Daily Using Invro Mining’s Smart Contract

September 4, 2025

TRX Was Early, ETH Set The Standard, BNB Built The Scale- Now SYC Brings The Next Evolution

September 4, 2025

Sign Up And Receive $500 Bonus, Ushering In A New Era Of Compliant And Secure Crypto Investment

September 4, 2025

Why experts say that 99%of the traders are wrong

September 4, 2025

ChainUp Named Double Finalist At Thomson Reuters’ ALB Pan-Asian Regulatory Awards 2025

September 4, 2025

Integrated security classes can accelerate the adoption of institutional passwords.

September 4, 2025

Binance explodes 466m LUNC with oblivion: revival play or special effect?

September 4, 2025

Cardano founder says Chainlink quotes ‘ridiculous price’ to them.

September 3, 2025

Acurast launches ‘Staked Compute’ and challenges AWS, Azure and Google Cloud using the distributed smartphone network.

September 3, 2025

Solana-packee blockchain manually spreads

September 3, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Web3 Enabler Announces Blockchain Payments V3.1 At Northeast Dreamin In Boston

September 4, 2025

Is XRP The Dark Horse Of The Cryptocurrency World? Earn 652 XRP Daily Using Invro Mining’s Smart Contract

September 4, 2025

TRX Was Early, ETH Set The Standard, BNB Built The Scale- Now SYC Brings The Next Evolution

September 4, 2025
Most Popular

Binance Futures Updates Leverage and Margin Ratings for USDⓈ-M and COIN-M Perpetual Contracts

May 27, 2024

Sam Altman’s Worldcoin meets Malaysian leaders on a cryptocurrency project aimed at strengthening government relations.

April 24, 2024

Solana’s new suggestions can reduce inflation by 80%. What happens next?

February 27, 2025
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.