Emmer: The need to protect Americans' right to financial privacy is at an all-time high

Hearing

"Chairman Hill, I want to thank you. This is an important hearing that you're holding today, and I appreciate it. Open, permissionless, and private. What do I mean by this? In our digital economy, all transactions are intermediated by banks, governments, or Big Tech. We must develop digital tools that function like cash. These digital assets must be open and freely accessible to all, without requiring permission from the government or anyone else, and private -- safeguarding the user's identity. These qualities are fundamental to a free society. Unfortunately, the Administrative State would rather have a cashless economy run on a central bank digital currency -- a tool the communists have -- than work to maintain our American values in the digital age. The need to protect Americans' right to financial privacy is at an all-time high. That's why I reintroduced the CBDC Anti-Surveillance State Act with over 50 of my colleagues. This bill prevents unelected bureaucrats from creating a tool for financial surveillance. If not open, permissionless, and private, like cash, a CBDC is nothing more than a CCP-style surveillance tool that will oppress the American way of life, and we're not going to allow that to happen."

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