Texas Sen. Ted Cruz introduced companion legislation into the U.S. Senate on Wednesday for Minnesota Rep. Tom Emmer’s bill prohibiting the Federal Reserve from issuing central bank digital currency, or CBDC, directly to individuals, Emmer Annouced. January 18th, Emmer presented the House bill. Fellow Republican Cruz’ legislation could potentially speed up passage or rejection of the bill by allowing it to be considered in both chambers of Congress at the same time.

Emmer, who is also co-chaire of the Congressional Blockchain Caucus, prompted his bill with concern about a Retail CBDC that required consumers to open Federal Reserve Bank Accounts. Could “be used as a surveillance tool that Americans should never tolerate from their own government,” according to the lawmaker. Emmer stated in January that