Americans should have a fundamental right to privacy!
I am proud to have authored HB1053 this year and am so pleased Governor Kemp signed it into law this week. This legislation pushes back on the Federal Reserve’s plan to issue a Central Bank Digital Currency (CBDC), which would be a total invasion of privacy for Americans and would undermine our banks and credit unions.
With this legislation, Georgia will not participate in any CBDC pilot programs, and if the Fed does go forward, Georgia governmental agencies will not accept payment in this form of currency.
A CBDC is a form of digital money issued by a central bank that would eventually replace the dollars in your wallet. The government would know every dollar you spent and where you were when you spent it. That’s just creepy!
With this legislation, Georgia will not participate in any CBDC pilot programs, and if the Fed does go forward, Georgia governmental agencies will not accept payment in this form of currency.
A CBDC is a form of digital money issued by a central bank that would eventually replace the dollars in your wallet. The government would know every dollar you spent and where you were when you spent it. That’s just creepy!
This would enable the government to:
- Monitor your transactions.
- Build a profile of your habits and behavior.
- And even manipulate that money to allow or disallow certain transactions, freeze your accounts, and seize your assets.
I would especially like to thank the many Georgians who supported this bi-partisan bill with emails and phone calls to the Capitol; the House co-sponsors of this bill (Noel Williams, Holt Persinger, David Clark, Trey Kelley, and Johnny Chastain); Senator Greg Dolezal for sponsoring this in the Senate and getting it approved in that body; and the excellent input and advocacy of organizations like Heritage Action; Frontline Policy Action, and Georgia Faith and Freedom.
