Rep. Mike Flood, U.S. Representative for Nebraska's 1st District | Rep. Mike Flood Official Headshot
Rep. Mike Flood, U.S. Representative for Nebraska's 1st District | Rep. Mike Flood Official Headshot
WASHINGTON, D.C. – U.S. Congressman Mike Flood issued a statement following the passage of H.R. 5403, the CBDC Anti-Surveillance State Act.
"The Chinese Communist Party’s digital yuan and social credit system serve as a cautionary tale about how technology can be used to control people – America must never allow this kind of thing to happen here in the land of the free," Rep. Flood said. "Unlike China, private sector companies in America – not the federal government – are leading the way on cryptocurrency. Public policy can and should encourage this continued approach. The CBDC Anti-Surveillance State Act stops the Federal Reserve from establishing a China-style digital currency. It’s my hope that the Senate will take this measure up soon so that we can ensure that Americans maintain their financial freedom as our private sector continues to innovate in the area of digital assets."
Video of Rep. Flood’s remarks during floor debate can be found here.
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