WASHINGTON – On March 26, 2024, Congressman Ellzey Co-Sponsored Majority Whip Tom Emmer’s CBDC Anti-Surveillance State Act. This bill forbids Federal Reserve banks from providing products or services directly to individuals, holding accounts for individuals, or issuing a central bank digital currency (such as a digital dollar) to individuals, either directly or indirectly. Additionally, the Board of Governors of the Federal Reserve System and the Federal Open Market Committee are barred from using a central bank digital currency to execute monetary policy.

"I firmly believe in safeguarding the integrity of our nation's financial system. H.R. 5403 reflects our commitment to protecting the sovereignty of our currency and maintaining the stability of our economy," said Ellzey. "Introducing a central bank digital currency directly to individuals poses significant risks to our privacy, our financial stability, and our economic sovereignty. I am grateful for Whip Emmers' leadership on this effort and will continue to work to ensure the security of our nation's financial system."