Anti-Cbdc Surveillance State Act
Floor Speech
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Mr. STUTZMAN. Mr. Speaker, I thank our Financial Services chairman for his leadership on a really important issue that is going to affect many generations ahead of us.
Mr. Speaker, I rise today in strong support of the anti-CBDC Surveillance State Act.
Our Founding Fathers were clear that Congress, not the executive branch, has the power to coin money and regulate its value.
Yet, in 2022, the Biden administration issued an executive order that placed the highest urgency on the research and development of a central bank digital currency, a so-called digital dollar.
Under the wrong circumstances, this technology could allow the Federal Government unfettered access into the wallets of every American, putting privacy and freedom at risk.
Unfortunately, Americans know all too well how far some administrations are willing to go to intrude into our lives. We all saw how the Biden administration ruthlessly pressured social media platforms to silence the voices of Americans who criticized their disastrous COVID-19 policies.
We saw this same ideology taken to the extreme when Canadian Prime Minister Justin Trudeau froze the bank accounts of Canadians who dared to protest his government during the pandemic.
Now, imagine if the Federal Government could see where we spend our hard-earned paychecks, track our charitable donations, or even cut off access to our own money if it disapproves of our beliefs.
Any digital dollar must reflect our values of privacy and our First Amendment rights. This bill ensures our digital assets policy is in the hands of the American people, not the administrative state. It protects our values of privacy, individual freedom, and free market innovation by prohibiting a CBDC surveillance tool that could be wielded against the American way of life.
I am proud to be a cosponsor of this important legislation, and I thank Whip Emmer and Chairman Hill for their outstanding leadership on this important issue.
Mr. Speaker, I urge my colleagues to support this legislation.
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