Senator Ted Cruz has introduced a bill to ban the digital dollar

According to the bill on combating supervision through the digital dollar (CBDC Anti-Surveillance State Act), the central bank will not be able to directly issue digital dollars and distribute them to anyone, as well as introduce them into commercial banks. The Fed will not be able to issue CBDCs indirectly either, in order to avoid distributing digital dollars to individuals through financial institutions or other third parties.

In addition, the regulator will be prohibited from using the digital dollar to implement monetary policy and control the economy. The bill also provides that the release of any CBDC in the country will require congressional authorization. Ted Cruz noted that his bill received the support of the organizations Heritage Action for America (HAFA) and Club for Growth (CFG), the Blockchain Association, the American Bankers Association (ABA), as well as Independent Local Bankers of America (ICBA).

"The digital dollar threatens ordinary Americans with privacy violations because the government will be able to collect their personal data, track and freeze user funds for any reason. Therefore, we welcome this bill to be submitted to the Senate for consideration," the Blockchain Association said.

Earlier, Senator Ted Cruz supported the development of the mining industry in Texas in order to increase the stability of energy systems in extreme weather conditions. In 2022, the politician said that he was investing in bitcoin, since the state does not control this cryptocurrency.

Source: https://bits.media/senator-ted-kruz-predstavil-zakonoproekt-o-zaprete-tsifrovogo-dollara/