
US Democrats defend CBDC's global leadership, Republicans fear dark side
Discussions at the United States House of Representatives Committee on Financial Services during the development of the CBDC's Anti-surveillance government act on September 9. 20 Sometimes went beyond purely financial and technical issues. At various points in the discussion, Star Wars and anarchists were mentioned, as well as crypto Bros. As part of the rhetoric, the value of research, the privacy of US citizens and the role of the government in everyday life have been discussed, as they are linked to the digital currency of the US Central Bank (CBDC). Tom Emmer introduced the bill after the committee passed several other bills. Describing his bill as simple, he said: It stops the efforts of the administrative state under President Biden to create a financial surveillance tool that will undermine the American way of life.While introducing the bill, Emmer mentioned the freezing of Canada's bank accounts during the trucker protest in 2022, as well as the Chinese digital yuan and the government social credit system. The bill has a tAccording to Emmer, he supports 60 senators and numerous organizations.A senior member, Maxine Waters, renamed the bill the CBDC's Anti-Innovation Act. Noting that this would jeopardize the dollar's status as the main global reserve currency, he later said that the bill would give China the authority to set a global standard for the central bank's digital currencies.Stephen Lynch pointed out contradictory statements in the bill, and questions arose about what research would be allowed in the CBDC area according to the bill, which was included repeatedly during the debate. Brad Sherman compared the cryptocurrency to CBDC in a negative way. Remember that no one should have to own a digital currency, he said.Rep. Tom Emmer: Digital assets will become a minor issue in the 2024 elections, Sel was one of those who did not want to trust the government with the power that the CBDC could give him. Introduced the members of the Government Committee: an event for MPsWally agreed that the bill prohibits the release of CBDC without an appropriate act of Congress, which the Federal Reserve has insisted on from the beginning. The general lack of financial privacy in the country was also noted by both opgemerkt parties.The Financial Services Committee will vote today on the bill, the CBDC's anti-surveillance state law. Take a look at my comments about the debate: pic.twitter.com/C4S3okdl0wWaters and Lynch introduced amendments to clarify the scope of the research bill to allow the Fed to study China's digital yuan, which could facilitate efforts to circumvent U.S. sanctions. Waters mentioned the pilot project of mbridge between China, Hong Kong, Thailand and the United Arab Emirates Dec. From the emirate.The committee called a Dec recess four hours later at 13:30 local time. After the reconvened meeting, the committee rejected the amendments and passed the bill, recommending it to the House of Representatives by a vote of 27 against 20.Magazine: Opinion: Republican Party crypto maxis are almost as bad as the Democrats' anti-crypto army
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