Ted Cruz proposes bill to ban CBDC adoption by Fed and 'Big Government'.

Republican Senator Ted Cruz has proposed legislation to block the issuance of a central bank digital currency (CBDC) in the United States, citing concerns over citizens' financial information and the potential for a surveillance state. Co-sponsored by Senators Mike Braun and Charles E. Grassley, Cruz argued that the US government had no authority to establish a central bank currency. The proposal comes amid growing pushback from prominent GOP politicians against CBDCs, with Florida Governor Ron DeSantis also proposing legislation to ban them in his state. Cruz is enthusiastic about decentralized cryptocurrencies, having previously proposed legislation to allow politicians to spend Bitcoin on Capitol Hill.