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    Vikshita Vitthal Gujaran in Crypto News

    27 Feb 03:15 PM


    US senators oppose Joe Biden’s CBDC plans

    The Federal Reserve’s plan for digital dollar issuance in the United States was met with a roadblock after five senators filed legislation demanding a ban on CBDCs.

    Five United States senators have joined hands to fight the Biden administration’s plans to issue a “digital dollar” by co-signing legislation demanding a ban on central bank digital currencies (CBDCs).

    On Feb. 26, U.S. Senator Ted Cruz, along with Senators Bill Hagerty, Rick Scott, Ted Budd and Mike Braun, introduced the CBDC Anti-Surveillance State Act, challenging the Federal Reserve’s authority to implement a CBDC. The senators fear that the Biden administration’s CBDC will be programmed to surveil citizens and infringe on freedom.

    Source - Coin Telegraph