Anti-Cbdc Surveillance State Act

Floor Speech

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Mr. MEUSER. Mr. Speaker, I thank the chairman of our full committee, Chairman Hill, for his leadership.

Mr. Speaker, I rise in support of H.R. 1919, the Anti-CBDC Surveillance State Act, led by Whip Emmer.

This bill is about defending our Constitution and protecting the privacy of the American people. The Constitution is unambiguous in Article I, Section 8, which grants only Congress exclusive authority to coin money, regulate the value thereof, and of foreign coin.

This is a clear provision of the United States Constitution. It is a foundational element of our constitutional Republic designed to keep such important authority over our Nation's currency issuance within the hands of the people's Representatives.

A central bank digital currency would centralize unprecedented power in the Federal Government and could open the door to real-time surveillance of every financial transaction in America.

Existing banking practices safeguard Americans' privacy. A CBDC could undo that protection overnight, creating a tool ripe for abuse. Even though the Constitution is clear, this bill restrains the Fed from even considering a central bank digital currency, reinforces Congress' constitutional authority over currency, and ensures that any digital dollar reflects our founding principles.

Mr. Speaker, I commend Whip Emmer for his leadership, and I urge support for this very important legislation.

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