Political Quotes

“Mr. Chair, the bill's sponsor has warned that a U.S. CBDC would mirror the surveillance tactics that are baked into the Chinese CBDC without explaining why the United States would ever choose to design its CBDC in a manner that mimics Chinese surveillance. Privacy protections can be incorporated from the earliest development stages of a CBDC. This is what other privacy-focused jurisdictions have been doing with their CBDC development, like the European Union, because their constituents care about privacy, too. {time} 1215 In fact, research from the Atlantic Council has noted that CBDCs can be designed in a way that offer cash-like privacy through the use of zero-knowledge proofs, encryption, and other design features where a payment validator processes transactions but does not learn the identities of those involved without the permission of the parties. Mr. Chair, I reserve the balance of my time. Mr. McHENRY. Mr. Chair, may I inquire as to the time remaining on both sides. The Acting CHAIR (Mr. Perry). The gentleman from North Carolina has 14\1/2\ minutes remaining. The gentlewoman from California has 6 minutes remaining. Mr. McHENRY. Mr. Chair, I yield 1\1/2\ minutes to the gentlewoman from Georgia (Ms. Greene).”