<p><a href="https://www.dailywire.com/topic/republican-party" target="_blank" rel="noopener">Republican</a> lawmakers at the state and federal levels have introduced multiple bills this week meant to prohibit or discourage the <a href="http://dailywire.com/topic/federal-reserve" target="_blank" rel="noopener">Federal Reserve</a> from creating a central bank digital currency, also known as a CBDC.</p>
<p>Opponents of the so-called digital dollar contend that the asset, which would be managed by central bankers and tethered to the value of the physical dollar, would enable and increase government surveillance and control of private citizens. Sen. Mike Lee (R-UT) <a href="https://www.lee.senate.gov/services/files/2F3D168A-6B2E-47D4-B47F-C706AEC16EE7" target="_blank" rel="noopener">proposed</a> one such piece of legislation on Thursday, comparing a potential digital dollar in the United States to an experimental digital yuan slated to be unveiled in China.</p>
<p>“Presently, the Federal Reserve is in the process of researching and developing its own CBDC that would, like China’s, centralize the government’s control over the economy, while strangling our fundamental liberties,” Lee said in a <a href="https://www.lee.senate.gov/services/files/493D0C95-997D-4BB3-BFE2-5A91AB0FE55C" target="_blank" rel="noopener">summary</a> of his legislation. “An American CBDC would offer citizens nothing that they cannot already obtain through private financial innovation. Instead, it could make their every transaction known to the Federal Reserve, while converting banks and credit unions into merely wallets rather than private lending institutions.”</p>
<p>President Joe Biden has backed the study of a possible CBDC and <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2022/09/16/fact-sheet-white-house-releases-first-ever-comprehensive-framework-for-responsible-development-of-digital-assets/" target="_blank" rel="noopener">launched</a> a “whole-of-government approach to addressing the risks and harnessing the potential benefits of digital assets and their underlying technology.” The Federal Reserve recently <a href="https://www.dailywire.com/news/federal-reserve-launches-digital-dollar-initiative-days-after-leading-cryptocurrency-firm-goes-under" target="_blank" rel="noopener">conducted</a> a study with Citi, Mastercard, BNY Mellon, and other financial institutions to determine the “feasibility of payments between financial institutions” using a digital dollar.</p>
<p>Sen. Ted Cruz (R-TX) and Sen. Mike Braun (R-IN) are also listed as <a href="https://www.dailywire.com/news/simply-a-bad-idea-ted-cruz-introduces-bill-to-stop-creation-of-a-central-bank-digital-currency" target="_blank" rel="noopener">sponsors</a> of the bill, which would amend the Federal Reserve Act such that financial authorities cannot “mint or issue” a CBDC directly to an individual or to a digital currency intermediary.</p>
<p>Similar legislation was <a href="https://emmer.house.gov/2023/2/emmer-leads-effort-to-squash-financial-surveillance-state-initiatives" target="_blank" rel="noopener">introduced</a> last month in the House by Rep. Tom Emmer (R-MN) and nine other sponsors. “Any digital version of the dollar must uphold our American values of privacy, individual sovereignty and free market competitiveness. Anything less opens the door to the development of a dangerous surveillance tool,” Emmer said. “After all, America remains a technological leader not because we force innovations to adopt our values under regulatory duress, but because we allow technology that holds these values at their core to flourish.”</p>
<p>Survey results from the Cato Institute shared last week with The Daily Wire indicate that sizable majorities of Americans <a href="https://www.dailywire.com/news/federal-reserve-officials-are-testing-a-central-bank-digital-currency-heres-what-that-means-for-your-financial-freedom" target="_blank" rel="noopener">oppose</a> the creation of a CBDC, especially if the technology caused the end of physical cash or permitted officials to monitor transactions.</p>
<p><b data-stringify-type="bold"><a class="c-link" href="https://onelink.to/dwapp" target="_blank" rel="noopener noreferrer" data-stringify-link="https://onelink.to/dwapp" data-sk="tooltip_parent">CLICK HERE TO GET THE DAILYWIRE+ APP</a></b></p>
<p>The advent of a CBDC could emerge as an issue in the forthcoming Republican presidential primary race. Vivek Ramaswamy, an asset management executive and contender for the Republican nomination, has pressed every Republican candidate to <a href="https://twitter.com/VivekGRamaswamy/status/1638254539156385792" target="_blank" rel="noopener">denounce</a> digital dollar initiatives. Gov. Ron DeSantis (R-FL) <a href="https://www.dailywire.com/news/desantis-unveils-plan-to-battle-bidens-efforts-to-inject-a-centralized-bank-digital-currency" target="_blank" rel="noopener">unveiled</a> a proposal this week designed to prohibit the use of a CBDC in Florida and encouraged other states to follow suit, while Gov. Kristi Noem (R-SD) <a href="https://www.dailywire.com/news/south-dakota-governor-kristi-noem-vetoes-central-bank-digital-currency-bill" target="_blank" rel="noopener">vetoed</a> legislation that would have classified the asset as money in South Dakota. Neither DeSantis nor Noem have officially declared their candidacies for the Republican nomination.</p>

<script async src="https://www.instagram.com/embed.js"></script>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<script async src="https://www.tiktok.com/embed.js"></script><div data-widget-host="revcontent" data-pub-id="165152" data-widget-id="290588"></div><script src="https://delivery.revcontent.com/165152/290588/widget.js"></script>

Republicans Lead Charge Against Biden’s Push For Central Bank Digital Currency

CONTINUE READING

Bud Light Sales Continue To Plummet, May Soon Lose Status As Number-One Beer

‘Profoundly Christian’: Former Head Of Anglican Church Presses British Government To Endorse Assisted Suicide

Ben Shapiro Reacts To Debt Limit Deal, Hits Both Democrats And Republicans Over Spending Habits

‘The Chosen’ Defends Pride Flag Spotted On Set: ‘Let The Show Speak For Itself’

Chick-Fil-A Faces Backlash As Their Diversity Efforts Resurface, Other Woke Brands Take Beating

North Korea Sentenced Two-Year-Old To Life In Prison After Family Caught With Bible: State Department

News

Biden Administration

Economy

Federal Reserve

Money

Republicans

A video goes viral showing a baby being refused his mother by two gay "dads". This is just the tip of the iceberg, which is why we will have an important discussion today about surrogacy. 

Hour 1

The Matt Walsh Show

Ep. 1765 - This Video Is One Of The Worst Things I've Seen In A Long Time 

The Strait of Hormuz officially opens for business (kind of), the Pope makes “shocking” comments on immigration, and President Trump promises UFO disclosure at TPUSA. 


The Michael Knowles Show

Ep. 1956 -  Pope Leo's "SHOCKING" Immigration Comments EXPLAINED

A false miscreed has corrupted our leadership class.


The Andrew Klavan Show

Ep. 1275 - Dumb, Dumber and Progressive

President Trump announces a 10-day ceasefire between Lebanon and Israel, a murder-suicide involving former Democratic Lieutenant Governor Justin Fairfax shakes Virginia, and France and Britain hold a conference to secure the Strait of Hormuz – after the Iranian conflict ends. Get the facts first with Morning Wire.

- - -

Ep. 2738

- - -

Wake up with new Morning Wire merch: https://bit.ly/4lIubt3

- - -

Today's Sponsors:

Alliance Defending Freedom - Visit https://JoinADF.com/WIRE or text 'WIRE' to 83848 to learn more.

Pocket Hose - Text MORNING to 64000 to get a FREE pocket pivot and their 10-pattern sprayer with the purchase of ANY size Copper Head hose. Message and data rates may apply.

Morning Wire

U.S. Expands Hormuz Blockade & VA Fairfax Deaths Investigated | 4.17.26

U.S. Expands Hormuz Blockade & VA Fairfax Deaths Investigated | 4.17.26 [Member Exclusive]

A ceasefire goes into effect between Israel and Lebanon, a tragic murder-suicide rocks Virginia, and Dairy Queen deploys AI in the drive-thru. Get the facts first with Evening Wire.
- - -
Ep. 2737
- - -
Wake up with new Morning Wire merch: https://bit.ly/4lIubt3 
- - -
Today’s Sponsor:

Alliance Defending Freedom - Visit https://JoinADF.com/WIRE or text “WIRE” to 83848 to learn more.


Evening Wire: Lebanon Ceasefire Begins & Murder-Suicide Rocks VA | 4.16.26

The Pendragon Cycle

Menu

— News —

Republicans Lead Charge Against Biden’s Push For Central Bank Digital Currency