Anti-Cbdc Surveillance State Act

Floor Speech

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Mr. ROSE. Mr. Speaker, I thank the chairman for yielding me time.

Mr. Speaker, I rise today in support of H.R. 1919, the Anti-CBDC Surveillance State Act.

Among the many rights that we enjoy as Americans, privacy is among the most fundamental. Establishing a central bank digital currency would not only usurp consumers' privacy and individual freedoms, but it would also hinder free market innovation.

Digital assets are here to stay. I agree strongly with President Trump that the United States should be a leader in this space. However, the last administration held a very different view. They wasted no time exploring ways to set up a surveillance state digital currency managed and micromanaged by the Federal Government.

President Trump understands the dangers of more government and more surveillance. It is why he issued an executive order prohibiting a CBDC. The vote before the House would make that ban permanent, and I urge my colleagues to support this bill.

Mr. Speaker, today the House will vote on the GENIUS Act, short for the Guiding and Establishing National Innovation for U.S. Stablecoins Act. The bill, which was introduced in the Senate by my friend and fellow Tennessean, Senator Bill Hagerty, provides a clear regulatory framework for the issuance of payment stablecoins.

Today, this payment product is offered with little, if any, Federal oversight. By establishing this regulatory clarity, this bill will drive significant demand for stablecoins. This bill will ensure issuers back stablecoins with high-quality liquid assets, a major win for the American consumer.

The GENIUS Act includes consumer protections and enables innovators to do what they do best. It also happens to strengthen the U.S. dollar's reserve currency status. This will result in the ability to make near-instant payments anywhere in the world, which is good for consumers, companies, and Americans.

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