WASHINGTON, D.C.— Today, Rep. Warren Davidson (R-OH) sent a letter to his House colleagues, encouraging them to help prevent state efforts to facilitate a Central Bank Digital Currency (CBDC).
After sending the letter, Rep. Davidson made the following statement:
“A Central Bank Digital Currency would eradicate the privacy and freedom inherent in cash transactions. Governments around the world are taking steps to establish a Chinese-style, centralized currency that would give the government more control over our lives. I encourage my House colleagues to contact their state legislators, asking them to do their part to protect against CBDCs. Only Congress could lawfully establish a Central Bank Digital Currency in the United States, but that hasn’t stopped CBDC advocates from working to normalize this Orwellian payment system.”
Proposed state changes to the Uniform Commercial Code (UCC) would legitimize CBDCs by carving out electronic records “authorized or adopted by the government” to fall within the definition of money. Yesterday, Governor Ron DeSantis announced legislation to prohibit the use of CBDC as a currency in Florida’s UCC. This follows Governor Noem’s recent veto of a proposed bill to change the UCC. Other states should follow suit.