Congressman Warren Davidson calls for banning and criminalizing CBDCs

"Money should not be programmable by a central authority," says Republican Rep. Warren Davidson.

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United States Republican Representative Warren Davidson has spoken out against central bank digital currencies (CBDCs), urging Congress to ban them and criminalize their development.

In a July 23 Twitter post, Congressman Davidson accused the Federal Reserve of “constructing the financial equivalent of the Death Star,” stating that CBDCs corrupt money into a tool of coercion and control, adding:

“Congress must quickly prohibit and then criminalize any effort to design, build, develop, test, or establish a CBDC.”

Davidson's comments came in response to a position advertised by the Federal Reserve Bank of San Francisco for a "senior crypto architect" to work on a CBDC project.

The Federal Reserve is building the financial equivalent of the Death Star.

Central bank digital currency (CBDC) corrupts money into a tool of coercion and control.

Congress must quickly ban and then criminalize any effort to design, build, develop, test, or establish a #CBDC. pic.twitter.com/9JWiyj5H2f

— Warren Davidson (@WarrenDavidson) July 23, 2023

Responding to a comment from a Twitter user, Davidson argued that money should be a stable store of value and should not be programmable by a central authority.

“A sound currency should facilitate peer-to-peer transactions without permission,” he added.

The Federal Reserve has actively researched the technology of a potential digital dollar, but has made no decision on whether to issue one. The possibility of a digital version of the US dollar has caused controversy in the country and is expected to be a key talking point in the upcoming presidential election.

Congressman Davidson isn't the only one worried about a possible Fed-con either...