Washington, Aug. 4 -- Rep. Congressman Cloud issued the following press release:
Congressman Michael Cloud (TX-27) introduced the Permanent CBDC Ban Act, legislation that would permanently prohibit the Federal Reserve from issuing or creating a Central Bank Digital Currency. A CBDC would expose Americans to unconstitutional financial surveillance and give the Federal Reserve unchecked power over individual finances.
The Permanent CBDC Ban Act is a direct response to a critical shortcoming in the 21st Century Road to Housing Act. That legislation restricted the Federal Reserve from issuing a CBDC but only temporarily, with the restrictions set to expire on December 31, 2030. The Permanent CBDC Ban Act would strike that expiration date and ...