The U.S. House Financial Services Committee has given the green light to the Anti-CBDC Surveillance State Act (HR 1919) with 27 votes in favor and 22 against. This bill is designed to restrict the Federal Reserve from creating or issuing a Central Bank Digital Currency (CBDC) without explicit approval from Congress.

Introduced by GOP Majority Whip Tom Emmer on March 6, the Act aims to counteract potential centralization and surveillance implications tied to central bank-issued digital currencies. The bill bars the Federal Reserve from offering specific products or services directly to individuals through CBDCs.

Emmer delivered a firm message against government overreach, highlighting the privacy risks associated with CBDCs, like data privacy and financial surveillance. He cited China's and Canada's instances as examples of how CBDCs might be misused for monitoring purposes.

A January 2025 White House executive order echoed similar concerns, emphasizing threats to privacy and financial stability posed by CBDCs and advocating for alternatives like dollar-backed stablecoins. Globally, 115 countries are investigating CBDCs, with several in research, proof of concept, or pilot stages, illustrating the growing worldwide interest in digital currencies.