Republican Congressman Warren Davidson is calling for an outright ban on central bank digital currencies (CDBCs) as he foresees the government using the asset to exert more control over the general population.
In response to a job advertisement by the Federal Reserve Bank of San Francisco seeking to recruit a senior crypto architect specializing in CBDCs, Congressman Davidson says that digital versions of fiat currencies should be outlawed.
Davidson refers to CBDCs as the “Death Star,” a reference to the planet-destroying warship from Star Wars.
“The Federal Reserve is building the financial equivalent of the Death Star.
Central Bank Digital Currency (CBDC) corrupts money into a tool for coercion and control.
Congress must swiftly ban then criminalize any effort to design, build, develop, test or establish a CBDC.”
Earlier this year, the congressman urged his colleagues to put measures in place that will prevent the development of a CBDC in the US.
“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.”
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