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GOP Sen. Ted Cruz Proposes Ban on a CBDC

The effort by the Texas senator adds to a similar state-level measure proposed earlier this week by Florida Gov. Ron DeSantis.

U.S. Sen. Ted Cruz of Texas has proposed a bill to prohibit the Federal Reserve from creating a central bank digital currency. (Alex Wong/Getty Images)
U.S. Sen. Ted Cruz of Texas has proposed a bill to prohibit the Federal Reserve from creating a central bank digital currency. (Alex Wong/Getty Images)