Ted Cruz Proposes Ban on Fed's CBDC Creation

Republican Senator Ted Cruz has introduced a bill to prevent the Federal Reserve from establishing a central bank digital currency (CBDC), arguing that it could centralize Americans' financial information and be used as a direct surveillance tool. The bill's cosponsors, Senators Mike Braun and Chuck Grassley, emphasized the importance of financial privacy and entrepreneurship, stating that the federal government should not have more control over citizens' money. They believe that Congress, not government bureaucrats, should make such impactful policies.