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Cruz, GOP senators double down on anti-central bank digital currency legislation
Senate Republicans are determined to restrict the Federal Reserve’s ability to create a so-called central bank digital currency, setting the stage for making the debut of a digital dollar an issue for the 2024 presidential campaign, FOX Business has learned. Conservative lawmakers have been doubling down on their opposition to a central bank digital currency (CBDC), arguing the federal government could weaponize the technology by using it to spy on Americans’ financial activity and potentially restrict access to their money. The Biden administration has sanctioned the Fed to conduct extensive research into the ... (full story)