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Dear Friend, 

Countries around the world have begun implementing or are considering issuing a digital version of their currency called a central bank digital currency or CBDC. I expect many of you have heard about CBDCs, but their ability to dismantle Americans’ right to financial privacy cannot be understated.  

For those of you who don’t know, a CBDC is a digital form of sovereign currency that is designed and issued by a government and transacts on a digital ledger that is controlled by that government. Simply put, a CBDC is a government-controlled, programable currency that could be weaponized by the federal government to monitor financial transactions and even prevent individuals from spending their money on politically unpopular activities.

This is not just alarming – it’s outright un-American. We have already seen examples of governments weaponizing their financial systems against their citizens, including:  

• In China, the Communist Party is using a CBDC to track the spending habits of its citizens. This data is being used to create a social credit system that rewards or punishes people based on their behavior.
• In Canada, the Trudeau government froze the bank accounts of individuals involved in the 2022 trucker protests.

If not designed to emulate cash, a government-issued CBDC is nothing more than a CCP-style surveillance tool that would be used to undermine our financial system and the American way of life.

We’re not going to let this happen. We have reintroduced the Central Bank Digital Currency Anti-Surveillance State Act, to prohibit the Federal Reserve from issuing a CBDC, preventing them from mobilizing into a retail bank with the ability to collect personal information on every American. You can read more about the CBDC Anti-Surveillance State Act, on my website here and via Fox Business, here.

If you have questions or concerns about CBDCs or would like to learn more about the CBDC Anti-Surveillance State Act, please reach out to our office, here.  

Sincerely,