- House Representative Anna Paulina Luna and crypto lawyer John Deaton revealed how Senator Elizabeth Warren strongly supported the implementation of a CBDC.
A US House Representative and a crypto lawyer revealed that Senator Elizabeth Warren of Massachusetts was the reason the Central Bank Digital Currency (CBDC) ban in the 21st Century ROAD to Housing Act was limited to the end of 2030.
Senator Elizabeth Warren’s Pro-CBDC Stance
According to Representative Anna Paulina Luna, a Republican from Florida, Warren refused to ban CBDC permanently. The representative of Florida’s 13th congressional district warned that allowing a central bank-issued digital US dollar would increase the government’s control over every aspect of one’s life.
Luna considered a CBDC a “massively terrifying” payoff. The lawmaker then vowed to “kill” it anyway due to the Senate’s inaction on the SAVE America Act.
ADVERTISEMENTMeanwhile, crypto lawyer John Deaton, who is launching his second bid to challenge Warren’s post in the mid-term elections, confirmed that his opponent was indeed an avid supporter of a Federal Reserve-issued CBDC. He claimed the reason why he ran against her in 2024 was to protect Americans from the “biggest threat to freedom” in his lifetime.
Additionally, Deaton stated that Warren’s strong advocacy for a CBDC led to her efforts to ban self-custody on Bitcoin (BTC) and other crypto assets. He also recounted that the senator told Chuck Todd, host of a weekly interview show on Noosphere, that the Fed was ready for the digital dollar.
The Public’s Response
Many people expressed their dismay over Luna’s revelation. They agreed that a CBDC indeed threatens one’s financial freedom.
ADVERTISEMENTAdditionally, commenters pointed out that Warren blocking the CBDC ban while ignoring the SAVE America Act only shows that she is not looking out for the USA’s best interests. For them, it’s an indication that she supports the government exercising its power to ensure each individual’s privacy.
On the other hand, some called out Luna’s apparent hypocrisy. They told her that, as she’s fearmongering about CBDCs, one must not forget that she allowed the now-defunct Department of Government Efficiency (DOGE), formerly led by billionaire entrepreneur Elon Musk, to access millions of Americans’ private data, including Social Security, health, and wage information.
Furthermore, several individuals opined that a CBDC will happen either way, and the current administration is only delaying the inevitable. They believe the government is too power hungry to give up its power to the people.
ADVERTISEMENT
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
White House Report Challenges Stablecoin Yield Ban, CLARITY Act Advances in Senate
A White House report argues against banning stablecoin yields, highlighting minimal benefits for bank lending and reduced consumer earnings. Key officials support the CLARITY Act, but the Senate Banking Committee's timeline remains uncertain, affecting the bill's chances before summer recess.
GateNews24m ago
Criticized for freezing too slowly: USDC freezes are taking too long! Circle CEO: We will definitely wait for a court order before freezing; we refuse to freeze it on our own
Circle CEO Jeremy Allaire said the company will not proactively freeze wallet addresses unless it receives a court order or law-enforcement requirement. Even amid allegations of hacker money laundering and community backlash, Circle continues to insist on operating under the rule of law.
Jeremy Allaire sets Circle’s law-enforcement bottom line
-----------------------------
As the global cryptocurrency market surges with uncertainty, Circle’s CEO Jeremy Allaire, at a press conference in Seoul, South Korea, made a clear stance on the market’s most sensitive issue of “asset freezes.” He noted that while Circle has technical means to freeze specific wallet addresses, unless it receives a court order or an official directive from law-enforcement agencies, the company will not
CryptoCity53m ago
Can bypass FSC regulations on using credit cards to buy crypto? OdinTing introduces the Wallet Pro service for buying crypto with a U.S. debit card
The OwlPay and Wallet Pro services launched by OdinTin use stablecoin technology to enable B2B cross-border payments, and—by partnering with major international payment players—showcase its ambitions for expansion in the fintech sector. By operating from overseas, OdinTin bypasses Taiwan’s regulatory restrictions, providing fast virtual-asset trading. Meanwhile, as it faces the newly promulgated Virtual Asset Services Act, it is set to become a reference template for other foreign-invested companies entering the Taiwan market.
CryptoCity1h ago
CLARITY Act Dropped From Senate Schedule; Crypto Bill Faces May Deadline to Avoid 2030 Delay
Senate Banking Committee Chair Tim Scott has delayed advancing the CLARITY Act due to unresolved issues, including stablecoin disputes and DeFi provisions. With a critical May deadline approaching, the bill's future remains uncertain amid political challenges.
GateNews2h ago
South Africa's FSCA Receives 128 Crypto Exchange License Applications by November 30 Deadline
As of November 30, 2023, South Africa's FSCA received 128 crypto asset service provider license applications. Of these, 19 were withdrawn, 74 are under review, and others have set assessment dates, indicating a push for investor protection in the digital asset space.
GateNews3h ago
Criticized for freezing USDC too slowly! Circle CEO: We will definitely wait for the court’s order before freezing—refusing to freeze privately/by ourselves without authorization
Circle CEO Jeremy Allaire said the company will not proactively freeze wallet addresses unless it receives a court order or a request from law enforcement. Even amid hacker money-laundering disputes and community backlash, Circle still insists on operating in accordance with the rule of law.
Jeremy Allaire sets Circle’s law-enforcement bottom line
-----------------------------
As the global cryptocurrency market roils, Circle’s CEO Jeremy Allaire, the stablecoin issuer, delivered a clear stance on the most sensitive issue in the market at a press conference in Seoul, South Korea. He pointed out that although Circle has the technical means to freeze specific wallet addresses, unless it receives a court order or a formal instruction from law-enforcement authorities, the company will not take such action on its own.
CryptoCity4h ago
