Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Investing

White House and DOJ Keep CBDC Legislation Secret, Cato and Rep. Hill Seek Answers

by November 14, 2024
November 14, 2024
White House and DOJ Keep CBDC Legislation Secret, Cato and Rep. Hill Seek Answers

Nicholas Anthony

After President Joe Biden signed an executive order instructing the government to research and develop central bank digital currency (CBDC), nearly every agency responded with public reports. The one outlier was the Department of Justice (DOJ), which opted to withhold its legislative analysis from the public eye.

I’ve had a Freedom of Information Act request pending for two years now in hopes of making the DOJ’s analysis public, and I’m not the only one seeking answers. Members of Congress have noticed the missing analysis as well. Representative French Hill (R‑AR) and ten other members of Congress wrote to Attorney General Merrick Garland in October 2022 when it became clear that the information had been withheld.

In the two years that have passed since our initial queries, neither my Freedom of Information Act request nor Representative Hill’s letter have been answered. When we discussed the matter, Representative Hill said, “I have pressed the DOJ for two years to receive a copy of their memo on CBDCs yet have received nothing but silence.” He further said,

The House was clear when it passed the Emmer-Hill CBDC Anti-Surveillance State Act to prohibit the Federal Reserve from issuing a CBDC and Chair Powell has publicly stated the Fed would not proceed on a CBDC without Congress—it should not be so difficult for the White House and DOJ to say they agree. The Biden-Harris Administration’s efforts to exert broad and untested executive authority by forgiving student loans give Americans every right to fear the same expansive executive power being abused once more with the creation of a CBDC. I applaud Cato’s FOIA request to obtain this information. If the White House and DOJ have nothing to hide, they should make this memo public and respect Congress’ constitutional authority to coin and regulate the value of money.

Representative Hill is right: it should not be difficult for the DOJ to make this information available. At the end of the day, the information in question is not on the location of witnesses in ongoing cases or the details of undercover agents. Rather, the DOJ was only asked to explain “whether legislative changes would be necessary to issue a United States CBDC” and to provide “a corresponding legislative proposal.” That’s it.

Yet despite the efforts of myself and Representative Hill, the only publicly available information about the DOJ’s analysis appears to be in the footnote of a press release announcing the publication of other reports related to President Biden’s executive order.

Perhaps it’s notable that out of the many reports required by executive order, the question of CBDC legislation was the only one that went to the Assistant to the President for National Security Affairs (APNSA) and the Assistant to the President for Economic Policy (APEP) instead of to the president directly. Still, this information should have been made publicly available once it became clear the public was interested in it.

Given how the rise of CBDCs has increasingly become a public concern, the American people deserve to know what the DOJ and the White House think needs to be done to create a CBDC. 

0
FacebookTwitterGoogle +Pinterest
previous post
12 Ways for Trump to Improve the Tax Code and Make His Tax Cuts Permanent
next post
Melania Trump launches ‘On the Move’ digital photo series highlighting her ‘fast-moving life’

You may also like

Americans Say they Like “Affirmative Action” but Yet...

August 8, 2023

A New, Depressing Survey on Inflation

July 21, 2023

Don’t Let Terrorist Destruction Stop Creative Building

October 31, 2023

Is Javier Milei a Libertarian?

August 15, 2023

Revising the Bank Secrecy Act to Protect Privacy...

July 29, 2022

Are Institutional Investors a Problem in the Housing...

November 13, 2023

Are the Latest FTC Cases against Tech Good...

June 29, 2023

Friday Feature: Everything Under The Rainbow

February 7, 2025

California Corruption and Zoning Reform

September 4, 2024

Digital Currency or Digital Control Is Out Now!

June 18, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Why AI and green tech are vital to SME growth in 2025

      June 10, 2025
    • Yes, it’s great to get PR coverage – until it’s locked behind a bloody paywall

      June 10, 2025
    • We have to act now to keep AI from becoming a far-left Trojan Horse

      June 10, 2025
    • SME lending delays slashed by 80% thanks to fintech-driven back-office reform

      June 10, 2025
    • UK defence innovation strategy opens new doors for SMEs in AI and autonomous tech

      June 10, 2025
    • Shark Tank study shows charming narcissists get funding

      June 10, 2025

    Categories

    • Business (8,172)
    • Investing (2,021)
    • Politics (15,580)
    • Stocks (3,138)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved