Key facts
- House conservatives oppose a Senate proposal linking FISA extension with a CBDC ban.
- The proposal includes a long-term extension of federal government spying powers.
- It also includes a temporary ban on the creation of a central bank digital currency (CBDC).
- Senators Tom Cotton and Chuck Grassley are reportedly involved in the Senate proposal.
Privacy advocates and conservative members of the House of Representatives are expressing strong opposition to a proposal emerging from the Senate. This Senate initiative seeks to bundle a long-term reauthorization of the Foreign Intelligence Surveillance Act (FISA), which grants the federal government broad surveillance capabilities, with a temporary prohibition on the development of a central bank digital currency (CBDC). The proposal reportedly involves Senators Tom Cotton, the chair of the Senate Intelligence Committee, and Chuck Grassley. The core of the opposition stems from concerns that linking these two distinct issues unfairly leverages the debate over surveillance powers to advance an agenda against CBDCs, while potentially infringing on privacy rights.