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Minnesota Congressman reintroduces a bill targeting potential CBDC surveillance to uphold US citizens’ financial privacy rights against government monitoring. Minnesota Congressman Tom Emmer reintroduced the CBDC Anti-Surveillance State Act on Sept. 12. The bill aims to protect US citizens’ privacy rights from a potential Central Bank Digital Currency (CBDC). The bill that has gained the support of 50 co-sponsors seeks to prevent the federal government from issuing a CBDC that would enable the authorities to monitor and track the financial activities of Americans. Emmer stated that the Biden administration plans to compromise Americans’ financial privacy by introducing a CBDC allowing surveillance and control. He added that his bill is focused on safeguarding the rights of Americans to financial privacy . You might also like: CBDC: gateway to state control or monetary innovation? CBDC and privacy challenges CBDC is a digital form of money issued and b...

Also Read: DOGE Surpasses BTC And LTC In Network Activity, Here’s Why advertisement This is in continuation to the pilot project initiated in 2022 between the two parties, which was centered around CBDC technology enabling device to device transfers through near-field communication (NFC). The new initiative is said to be aimed at bypassing difficulties like the lack of network connectivity in South Korea’s internal locations. This is also an attempt to subvert the usage of card and cash payments in the country. Samsung Galaxy Phones To Power Offline Payments Samsung said that the research will focus on minimizing security issues in offline payments when made through Samsung’s Galaxy smartphones and smartwatches, as per The Korea Times report. Lee Seung-heon, senior deputy governor of the Bank of Korea, said, “We look forward to Korea continuing to lead the way in offline CBDC technology, which is being actively researched by g...