The US Chamber of Financial Services Committee approved the anti-CBDC law on the surveillance state (HR 1919). The bill was adopted with 27 votes in favor and 22 against.
It aims to prohibit the Federal Reserve from developing or issuing a digital currency of the Central Bank (CBDC) without explicit authorization from the congress.
The American Committee repels CBDC with the Surveillance Act
The majority Whip of the GOP, Tom Emmer, presented the bill on March 6. It seeks to limit the potential centralization and surveillance aspects associated with digital currencies issued by central banks.
“To modify the law on the federal reserve to prohibit banks of the federal reserve to offer certain products or services directly to an individual, to prohibit the use of the central bank’s digital currency for monetary policy and other purposes”, the Invoice Read.
The bill prohibits the federal reserve from issuing a CBDC directly to individuals. It also prevents the Fed from creating accounts for them or from the use of the currency for monetary policy.
The EMMER representative took a solid position against the government’s overcoming during the committee session. He argued that they had no tools to develop tools for financial surveillance. EMMER has also been zero on the risks posed by CBDC.
He described it as a form of programmable money controlled by the government. In addition, the representative explained that without guarantee of confidentiality in cash, he could give to the federal authorities the unprecedented power to monitor each transaction of the Americans and to repress politically embarrassing activities.
Based on global examples, EMMER highlighted the use of China of a CBDC under the control of the Communist Party to keep an eye on citizens’ spending models. He also underlined Canada, where the Government of Trudeau froze the banking accounts of the trucker’s protest in 2022, as a striking warning of how these tools could be armed.
“The anti-CBDC law on the surveillance state guarantees that the United States digital currency policy is in the hands of the American people, not the administrative state. It reflects our American values of privacy, individual sovereignty and competitiveness of the free market ”, emmer declared.
In particular, a White House frame of January 2025 order echoes similar concerns. President Trump’s order has warned that CBDC could compromise financial stability, privacy and American sovereignty.
He called for measures to prohibit them in the American court while encouraging alternatives such as stablescoins supported in dollars and guaranteeing continuous access to open blockchain networks.
Meanwhile, the American push against CBDC intervenes in the midst of an increased world interest in them. In March 2025, 115 countries and regions were actively involved in CBDC projects.
Among these, 92 are in research phase, 27 work on proof of concepts and 22 lead pilot programs. In addition, four countries have officially launched their CBDC. Finally, only nine projects have been canceled.
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