East Central Texas News

WASHINGTON – On March 26, 2024, Congressman Ellzey joined Majority Whip Tom Emmer in co-sponsoring the CBDC Anti-Surveillance State Act, as reported on . The legislation aims to prevent Federal Reserve banks from offering products or services directly to individuals, maintaining accounts for individuals, or issuing a central bank digital currency to individuals, whether directly or indirectly. Furthermore, it prohibits the Board of Governors of the Federal Reserve System and the Federal Open Market Committee from employing a central bank digital currency for monetary policy execution.

In a statement, Congressman Ellzey emphasized his dedication to protecting the nation's financial system integrity and currency sovereignty. He stated, "I firmly believe in safeguarding the integrity of our nation's financial system. H.R. 5403 reflects our commitment to protecting the sovereignty of our currency and maintaining the stability of our economy." Ellzey highlighted the risks associated with introducing a central bank digital currency directly to individuals, citing concerns about privacy, financial stability, and economic sovereignty. He expressed gratitude for Whip Emmer's leadership on the initiative and pledged to work towards ensuring the security of the nation's financial system.

The full article can be accessed at the following link: [Congressman Ellzey Co-Sponsors H.R. 5403 – CBDC Anti-Surveillance State Act](https://ellzey.house.gov/2024/3/congressman-ellzey-co-sponsors-h-r-5403-cbdc-anti-surveillance-state-act)