Gate News reports that on March 8, U.S. Representative Michael Cloud, along with 28 other members of Congress, sent a letter to congressional leaders demanding a permanent ban on the issuance of central bank digital currencies (CBDC) in the United States. The lawmakers believe that the current bill, which only proposes to prohibit the Federal Reserve from issuing CBDCs until 2031, is insufficiently strong and warn that CBDCs could lead to financial surveillance, grant excessive power to the Federal Reserve, and threaten citizens’ freedoms. They call for the reinstatement of the stricter permanent ban provisions outlined in the previously proposed Anti-CBDC Surveillance State Act. The representatives emphasize that any ban on issuing U.S. central bank digital currencies must be “permanent” and warn that issuing a U.S. CBDC is “essentially anti-American.”
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