Congressman Tom Emmer revives anti-CBDC bill, calls digital dollar a ‘surveillance tool’

House Majority Whip Tom Emmer reintroduced legislation to prevent the federal government from issuing a central bank digital currency (CBDC), arguing it could threaten financial privacy and empower government overreach. The Anti-CBDC Surveillance State Act bans the Federal Reserve from developing a digital dollar and blocks the Treasury Department from directing its creation. 100 Republican co-sponsors reflect mounting conservative opposition to a government-backed digital currency, while supporters argue a digital dollar could enhance financial inclusion and competitiveness in the global economy. Federal Reserve Chair Jerome Powell has stated that the central bank would not move forward with a digital dollar without congressional approval, signaling uncertainty about the bill’s path forward.