Minnesota congressman Tom Emmer has reintroduced a bill that seeks to protect U.S. citizens from any possible surveillance through a Central Bank Digital Currency (CBDC). The CBDC Anti-Surveillance State Act aims to protect users from monitoring and tracking by government authorities and uphold financial privacy rights. The bill does not prevent the federal government from issuing a CBDC, but opposes one that can be monitored and tracked by authorities. Emmer accuses the Biden administration of undermining financial privacy rights and establishing a CBDC that can be used by authorities to monitor and track the financial activities of citizens.
The launch of a CBDC has raised various concerns in regard to privacy. Market experts are wary that governments will be able to track all transactions in real-time, essentially tracking the users’ location and activities in real time. This level of control is being opposed by some regulators and nearly all market experts.
In the wake of these privacy concerns, privacy-centric coins such as Monero, Zcash, and Dash are experiencing a growing interest. These coins are built to protect the right to financial privacy and offer users true financial freedom. However, they are under threat from regulators who accuse them of being used for illegal activities. Despite this, the coins remain popular worldwide.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 🇨🇳 🇯🇵 🇦🇺 |
| Sentiment | neutral |
| Relevance Score | 9 |
| People | South Korea, Tom Emmer, Joe Biden, Australia, Japan |
| Companies | Biden administration, South Korea, Tom Emmer, China, Monero, Zcash, Dash, Central Bank Digital Currency (CBDC), Australia., Japan |
| Currencies | Bitcoin, Ethereum, Monero, Zcash, Dash |
| Securities | None |
