TX SCR8

The 89th Texas Legislature formally expresses opposition to the creation of a central bank digital currency (CBDC) by the Federal Reserve

Cites concerns that retail CBDCs would establish a direct relationship between the Federal Reserve and consumers, potentially enabling unprecedented government surveillance and control over private financial transactions

Raises cybersecurity concerns that centralized collection of transaction data under a CBDC system could be exploited to compromise the nation's financial stability

Notes a tension between privacy protections and regulatory transparency, stating that proposals to minimize security risks often reduce the ability to detect money laundering and terrorism financing

Adopted by the Texas Senate on March 27, 2025 (30-0) and by the Texas House on May 23, 2025 (124-9)