Congressman Flood Joins Efforts to Safeguard American Financial Freedom

February 23, 2023

WASHINGTON, D.C. – U.S. Congressman Mike Flood, along with several House Republicans, has co-sponsored Congressman Tom Emmer’s (R-MN) Central Bank Digital Currency (CBDC) Anti-Surveillance State Act, which will help ensure unelected bureaucrats in Washington, D.C. do not strip Americans of their right to financial privacy.

“In a digital age, cryptocurrency represents new economic opportunities for America – but it’s critical for private sector innovators to take the lead. The American dollar has long been a symbol of prosperity and freedom, and our digital currencies should be the same,” Congressman Flood said. “The Chinese Communist Party’s move to use government-run digital currency to impose further control on its people and its economy is a cautionary tale that America must avoid. The CBDC Anti-Surveillance State Act is a key step towards ensuring that Americans maintain their financial freedom by prohibiting a centrally controlled digital currency as our economy continues to innovate in the area of digital assets.”

“Any digital version of the dollar must uphold our American values of privacy, individual sovereignty and free market competitiveness. Anything less opens the door to the development of a dangerous surveillance tool,” Majority Whip Emmer said. “After all, America remains a technological leader not because we force innovations to adopt our values under regulatory duress, but because we allow technology that holds these values at their core to flourish.”