by Ben Zeisloft, Daily Wire:
Sen. Ted Cruz (R-TX) introduced a bill on Tuesday that would prevent the Federal Reserve and the Biden administration from establishing a central bank digital currency.
Opponents of a potential central bank digital currency observe that the asset, which would be managed by the Federal Reserve and tethered to the value of the dollar, may increase government surveillance and control of private citizens. The legislation submitted by Cruz, as well as Sen. Mike Braun (R-IN) and Sen. Chuck Grassley (R-IA), would ban monetary policymakers from implementing the technology.