Emmer: The need to protect Americans’ right to financial privacy is at an all-time high
Washington, September 15, 2023
WASHINGTON – Majority Whip Tom Emmer gave the following remarks on the reintroduction of his bill, the Central Bank Digital Currency (CBDC) Anti-Surveillance State Act, at a House Financial Services Committee hearing Thursday. The CBDC Anti-Surveillance State Act puts a check on unelected bureaucrats and ensures the United States' digital currency policy upholds America’s values of privacy, individual sovereignty, and free-market competitiveness.
Click here or above to watch the clip.
Whip Emmer: “Chairman Hill, I want to thank you. This is an important hearing that you’re holding today, and I appreciate it. Open, permissionless, and private. What do I mean by this? In our digital economy, all transactions are intermediated by banks, governments, or Big Tech. We must develop digital tools that function like cash. These digital assets must be open and freely accessible to all, without requiring permission from the government or anyone else, and private – safeguarding the user’s identity. These qualities are fundamental to a free society. Unfortunately, the Administrative State would rather have a cashless economy run on a central bank digital currency – a tool the communists have – than work to maintain our American values in the digital age. The need to protect Americans’ right to financial privacy is at an all-time high. That’s why I reintroduced the CBDC Anti-Surveillance State Act with over 50 of my colleagues. This bill prevents unelected bureaucrats from creating a tool for financial surveillance. If not open, permissionless, and private, like cash, a CBDC is nothing more than a CCP-style surveillance tool that will oppress the American way of life, and we’re not going to allow that to happen.”