The Rundown

Rep. Tom Emmer Says Democrats Won’t Speak Out Against CBDCs Because The Biden Admin Supports Them

House Majority Whip Tom Emmer (R-MN) said that some democrats support his CBDC Anti-Surveillance State Act but cannot say publicly because the government is in favor of a digital dollar. Emmer introduced the legislation in February in an attempt to stop the Federal Reserve from issuing a CBDC or using one to structure monetary policy. The legislation would also subject the Fed to more oversight when studying a digital dollar. Initially, the bill had nine co-sponsors. Currently, it has 23, all of them Republicans. Emmer said, “It’s not just crypto-friendly Republicans. I believe we have significant support on the other side of the aisle as well, even though they right now cannot be public with that support because the administration is not necessarily favorable.”