March 28, 2023 | “No Central Bank Digital Currency Act” Introduced | S. 967, The No CBDC Act, was introduced by Utah Senator Mike Lee. The legislation is to prevent the Federal Reserve from shaping the U.S. financial sector and having the ability to monitor consumer transactions.
Senator Lee said, “The United States doesn’t need to create a Central Bank Digital Currency to know it is a bad idea. We’ve seen this play out in China with the digital Yuan. In early trials, China canceled its citizens’ money after a set period, forcing Chinese citizens to spend their savings at the compulsion of the government. My bill protects Americans from a similar intrusion by prohibiting the Federal Reserve or any federal government agency from minting or issuing a CBDC, whether through a direct-to-consumer or intermediated model.”
Link To Bill HERE
Link to one-pager HERE