U.S. Senator Ted Cruz has introduced legislation to ban a direct-to-consumer central bank digital currency (CBDC). cryptocurrency bitcoin Fed
U.S. Senator Ted Cruz has introduced “legislation to prohibit the Federal Reserve from developing a direct-to-consumer” central bank digital currency . The lawmaker warned that it “could be used as a financial surveillance tool by the federal government.” Another senator stressed: “The American people ought to be able to spend their money how they choose without the possibility that every transaction could be tracked by the government.”U.S.
The senator from Texas noted that unlike decentralized cryptocurrencies, such as bitcoin, CBDCs “centralize Americans’ financial information, leaving it vulnerable to attack.”
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