{"id":10822,"date":"2023-03-10T08:27:51","date_gmt":"2023-03-10T08:27:51","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=10822"},"modified":"2023-03-10T08:27:52","modified_gmt":"2023-03-10T08:27:52","slug":"cbdcs-could-be-easily-weaponized-to-spy-on-us-citizens-congressman","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=10822","title":{"rendered":"CBDCs could be \u2018easily weaponized\u2019 to spy on US citizens: Congressman"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>United States Representative Tom Emmer believes the launch of programmable central bank digital currency in the country could strip American citizens of their financial privacy.<\/p>\n<p>Speaking on March 9 at the Cato Institute, a Washington D.C.-based libertarian think tank, Emmer explained\u00a0that the programmable CBDC would be \u201ceasily weaponized\u201d as a spying tool to \u201cchoke out politically unpopular activity,\u201d among other things:<\/p>\n<p>&#8220;As the federal government seeks to maintain and expand financial control to which it has grown accustomed, the idea of the central bank digital currency has gained traction within the institutions of power in the United States as a government-controlled programmable money that can be easily weaponized into a surveillance tool.\u201d<\/p>\n<p>The Minnesota congressman\u00a0introduced the CBDC Anti-Surveillance Act on Feb. 22 to halt the progress of the Digital Dollar Project,\u00a0which has seen considerable developments in how it would be used since the second version of its white paper was released in mid-January. <\/p>\n<p>\u201cRecent actions from the Biden Administration make it clear that they are not only itching to create a digital dollar but they are willing to trade Americans&#8217; right to financial privacy for the surveillance-style CBDC,\u201d he added.<\/p>\n<p lang=\"en\" dir=\"ltr\">The Blockchain Regulatory Certainty Act<br \/>The Securities Clarity Act<br \/>The Safe Harbor for Taxpayers with Forked Assets Act<br \/>The CBDC Anti-Surveillance State Act<\/p>\n<p>The future of crypto in the US will be determined by Congress and the American People &#8211; not the Administrative State. pic.twitter.com\/OQ0uwxjVxX<\/p>\n<p>\u2014 Tom Emmer (@GOPMajorityWhip) March 9, 2023<\/p>\n<p>Emmer suggested that the blockchain-enabled \u201cownership economy\u201d is \u201cthreatening\u201d many bureaucrats in Washington, as it \u201cshifts economic power from centralized institutions back into the hands of the people.\u201d<\/p>\n<p>While the latest Federal Reserve discussion paper explained that it would only issue the CBDC in the context of \u201cbroad public and cross-governmental support,&#8221; Emmer and many others are concerned with the potential dangers that could ensue:<\/p>\n<p>\u201cIt not only tracks transaction level data down to the individual user but also the ability to program the CBDC to choke out politically unpopular activity.\u201d<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>\u2018Programmable money should terrify you\u2019 \u2014 Layah Heilpern<\/em><\/strong><\/p>\n<p>Emmer also argued that decentralized cryptocurrencies can serve as a solution to the mismanagement of the U.S. monetary system and restore many of the \u201cAmerican values\u201d that led the nation to become an economic powerhouse in the 20th century \u2014 privacy, individual sovereignty and free markets.<\/p>\n<p>He added that by even experimenting with CBDCs, the U.S. is going against these values:<\/p>\n<p>\u201cNothing could be more dangerous than adhering to a manufactured sense of urgency like this and ultimately developing a CBDC that is not open, permissionless and private.\u201d<\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/cbdcs-could-be-easily-weaponized-to-spy-on-us-citizens-congressman\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>United States Representative Tom Emmer believes the launch of programmable central bank digital currency in the country could strip American citizens of their financial privacy. Speaking on March 9 at the Cato Institute, a Washington D.C.-based libertarian think tank, Emmer explained\u00a0that the programmable CBDC would be \u201ceasily weaponized\u201d as a spying tool to \u201cchoke out [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10823,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-10822","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/10822","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10822"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/10822\/revisions"}],"predecessor-version":[{"id":10824,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/10822\/revisions\/10824"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/10823"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10822"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10822"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10822"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}