Twenty-eight U.S. lawmakers have jointly called for a permanent ban on the issuance of central bank digital currencies.
CoinFeed reported on March 8th that, according to Cointelegraph, U.S. Representative Michael Cloud, along with 28 other members of Congress, sent a letter to congressional leadership demanding a permanent ban on the issuance of a U.S. central bank digital currency (CBDC). The lawmakers argue that the current bill's provisional ban on the Federal Reserve issuing a CBDC until 2031 is insufficient, warning that CBDCs could lead to financial surveillance, grant the Federal Reserve excessive power, and threaten civil liberties. They advocate reinstating the stricter, permanent ban provisions of the previously proposed Anti-CBDC Surveillance State Act. Any ban on the issuance of a U.S. central bank digital currency must be "permanent," and warned that issuing a U.S. central bank digital currency is "essentially anti-American."