U.S. lawmakers: The American people have a right to financial privacy and do not need a CBDC that tracks purchasing behavior

ChainCatcher news, reported by bitcoin.com, states that some U.S. lawmakers have expressed concerns about the privacy risks of the Federal Reserve issuing a central bank digital currency (CBDC). One congressman stated that Americans have a right to financial privacy, and we do not need a CBDC that can track purchasing behavior.

Several other lawmakers have also issued similar warnings about the risks of the Federal Reserve issuing a CBDC. Congressman R-NC previously stated on Twitter: "The Federal Reserve cannot advance a CBDC without congressional authorization. Before taking action, Congress must work to understand the risks that a CBDC may pose to privacy, private sector innovation, and American consumers."