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WASHINGTON, D.C. – U.S. Sen. Ted Cruz (R-Texas) introduced the Anti-CBDC Surveillance State Act, legislation that prohibits the Federal Reserve from issuing a Texas is taking steps to ban the use of a central bank digital currency (CBDC) within the state. The bill, introduced by the 88th Legislature, aims to address concerns Sen. Ted Cruz (R-Texas) introduced a bill on Tuesday aimed at blocking the Federal Reserve from creating a consumer-based central bank digital currency, or CBDC. Texas, a state in the south-central region of the United States, introduced a bill to ban CBDC. The bill states the retail of CBDCs is issued to the general public WASHINGTON, D.C. – U.S. Sen. Ted Cruz (R-Texas), joined by Sens. Bill Hagerty (R-Tenn.), Rick Scott (R-Fla.), Ted Budd (R-N.C.), and Mike Braun (R-Ind.), today “This bill blocks the issuance of a central bank digital currency, preventing CBDC from being used as a tool to surveil and violate Americans’ privacy.” WHEREAS, A central bank digital currency (CBDC) is a digital form of money that is a liability of the Federal Reserve, rather than a liability of commercial banks; retail CBDCs are issued to the

Texas Introduces Bill to Ban Central Bank Digital Currency (CBDC)

Texas is taking steps to ban the use of a central bank digital currency (CBDC) within the state. The bill, introduced by the 88th Legislature, aims to address concerns about privacy and federal overreach. This move positions Texas at the forefront of a growing national debate surrounding the potential implications of a U.S. CBDC.

The bill states the retail of CBDCs is issued to the general public, raising serious questions about control and potential misuse. Many believe a CBDC could grant the federal government unprecedented access to personal financial information, a concern voiced by numerous lawmakers and citizens alike.

WASHINGTON, D.C. – U.S. Sen. Ted Cruz (R-Texas), joined by Sens. Bill Hagerty (R-Tenn.), Rick Scott (R-Fla.), Ted Budd (R-N.C.), and Mike Braun (R-Ind.), today highlighted these concerns. Sen. Ted Cruz (R-Texas) introduced the Anti-CBDC Surveillance State Act, legislation that prohibits the Federal Reserve from issuing a consumer-based central bank digital currency, or CBDC.

“This bill blocks the issuance of a central bank digital currency, preventing CBDC from being used as a tool to surveil and violate Americans’ privacy,” stated Senator Cruz. The legislation reflects a growing apprehension among conservative circles about the potential for government overreach through a digital currency controlled by the Federal Reserve.

WHEREAS, A central bank digital currency (CBDC) is a digital form of money that is a liability of the Federal Reserve, rather than a liability of commercial banks; retail CBDCs are issued to the general public. This distinction is critical, as it shifts control from private banks to the central government.

The implications of Texas's bill extend beyond the state's borders. It signals a growing resistance to the adoption of a CBDC and raises fundamental questions about financial freedom and government surveillance. Stay updated on the latest developments regarding the Texas CBDC ban and its potential impact on the future of digital currency in the United States.

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