{"id":75969,"date":"2023-03-22T11:34:41","date_gmt":"2023-03-22T09:34:41","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=75969"},"modified":"2025-09-10T14:41:54","modified_gmt":"2025-09-10T11:41:54","slug":"u-s-senator-opposes-creation-of-a-retail-cbdc","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/u-s-senator-opposes-creation-of-a-retail-cbdc\/","title":{"rendered":"U.S. senator opposes creation of a retail CBDC"},"content":{"rendered":"<p>U.S. Senator Ted Cruz, a Republican from Texas, introduced a bill prohibiting the <span data-descr=\"Federal Reserve System\" class=\"old_tooltip\">FRS<\/span> from launching a consumer-oriented central bank digital currency (<a href=\"https:\/\/u1f987.com\/en\/news\/what-is-a-central-bank-digital-currency-cbdc\">CBDC<\/a>).<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">The federal government has no authority to unilaterally establish a central bank currency. <\/p>\n<p>Read about my new bill in <a href=\\\"https:\/\/twitter.com\/FoxBusiness?ref_src=twsrc%5Etfw\\\">@FoxBusiness<\/a>: Ted Cruz introduces bill blocking Fed from adopting central bank digital currency<a href=\\\"https:\/\/t.co\/LoX3u41nA4\\\">https:\/\/t.co\/LoX3u41nA4<\/a><\/p>\n<p>\u2014 Senator Ted Cruz (@SenTedCruz) <a href=\\\"https:\/\/twitter.com\/SenTedCruz\/status\/1638321175532109824?ref_src=twsrc%5Etfw\\\">March 21, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>In his view, authorities should not create a product that \u201ccould be used by the federal government as a tool of financial surveillance.\u201d<\/p>\n<p>Cruz emphasised the importance of U.S. policy toward digital currencies \u201cprotecting financial privacy, upholding dollar sovereignty and fostering innovation.\u201d<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cCBDCs that do not adhere to these core principles could enable an institution such as the Federal Reserve to operate as a retail bank, collecting users&#8217; personal information and tracking their transactions,\u201d the senator explained.<\/p>\n<\/blockquote>\n<p>Cruz also noted that the federal government \u201cdoes not have the authority to unilaterally create\u201d a central bank digital currency.<\/p>\n<p>The initiative was backed by Republican Senators Mike Braun of Indiana and Chuck Grassley of Iowa.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cAmericans should have the ability to spend their money as they see fit, without fear of a government that could track every transaction,\u201d Grassley explained.<\/p>\n<\/blockquote>\n<p>This is Cruz&#8217;s second bid to advance his bill. On 30 March 2022, the senator <a href=\\\"https:\/\/www.cruz.senate.gov\/imo\/media\/doc\/cbdc.pdf\\\">\u043f\u0440\u0435\u0434\u0441\u0442\u0430\u0432\u0438\u043b<\/a> a similar document, but it never progressed beyond the committee stage.<\/p>\n<p>Earlier in March, U.S. Representative Tom Emmer also <a href=\"https:\/\/u1f987.com\/en\/news\/u-s-congressman-flags-privacy-threat-from-cbdc-rollout\">opposed the digital dollar<\/a>. In his view, CBDC technology affronts American values and could facilitate \u201cfinancial control\u201d over citizens.<\/p>\n<p>Earlier he introduced <a href=\"https:\/\/u1f987.com\/en\/news\/u-s-congressman-opposes-fed-control-over-the-digital-dollar\">a bill to protect \u201cfinancial privacy\u201d<\/a> in the use of central bank digital currency. The main provision of the document is a prohibition on the Fed\u2019s dissemination of CBDC to individuals.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. Senator Ted Cruz, a Republican from Texas, introduced a bill prohibiting the Federal Reserve from launching a consumer-oriented central bank digital currency (CBDC).<\/p>\n","protected":false},"author":1,"featured_media":75970,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1095,26],"class_list":["post-75969","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cbdc","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75969","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=75969"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75969\/revisions"}],"predecessor-version":[{"id":75971,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75969\/revisions\/75971"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/75970"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=75969"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=75969"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=75969"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}