Anti-Cbdc Surveillance State Act

Floor Speech

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Mr. STEIL. Mr. Speaker, I thank the gentleman from Arkansas (Mr. Hill) for yielding time.

Mr. Speaker, I rise in strong support of the Anti-CBDC Surveillance Act. I thank Whip Emmer for his leadership on this issue. He was actually one of the first in Congress to raise the alarm. Since then, the case has only grown stronger about the risks posed by U.S. CBDC.

Mr. Speaker, the global economy is at a crossroads when it comes to digital payments. Jurisdictions around the world are upgrading their payment systems to be faster, to be cheaper, and cross-border. The private sector is leading the way, including payment stablecoins to enhance the payment rails.

As the United States grapples with modernizing our own payment systems, we are confronted with a choice. Do we empower free-market solutions that protect privacy and protect individual liberty, or do we centralize control over payments in the hands of the Federal Government?

Mr. Speaker, the choice is clear to me. Federal Reserve Governor Christopher Waller has repeatedly warned that a CBDC is ``a solution in search of a problem.'' Nonetheless, Mr. Speaker, in 2022, in his executive order on Responsible Development of Digital Assets, President Biden sought to explore a U.S. central bank digital currency placing ``the highest urgency on research and development efforts into the potential design and development options of a United States CBDC.''

President Trump understands a CBDC's threat to our American freedoms.

In his January 2025 executive order, President Trump explicitly prohibited any Federal agency from issuing or advancing a CBDC without direct congressional authorization.

In a free society, Mr. Speaker, financial privacy and private property rights must be protected. The American economy thrives on choice, competition, and liberty, not on coercion and control.

Mr. Speaker, I urge all Members to support this bill, preserving liberty, protecting privacy, and ensuring the United States of America is a global leader in financial innovation.

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