US Senator Ted Cruz Introduces Bill to Ban Digital Dollar

US Senator Ted Cruz has been an ardent supporter of the legalization of the virtual currency market in the Senate, introducing a bill in January to allow cryptocurrencies to be used as a form of payment on Capitol Hill.

This week, he, along with Republican Senators Mike Brown of Indiana and Chuck Grassley of Iowa, proposed a bill to prevent the US Federal Reserve from issuing a digital version of the dollar.

Cruz has argued that the US authorities should be focused on spurring innovation and protecting citizens’ and companies’ data, rather than attempting to gain further control over the financial sector.

He has declared:

“We must empower entrepreneurs, innovate, not stifle them. The federal government does not have the authority to unilaterally launch a central bank currency.”