HB1053 prohibits governmental agencies from using a central bank digital currency (CBDC) as payment and from participating in any testing of such currency.
The Georgia State House of Representatives passed HB1053 on February 29, 2024 by a vote of 136 to 32. We have assigned pluses to the ayes because Article I, Sections 8 and 10 of the U.S. Constitution state that only Congress has the power to coin money. States should take steps to return to the gold standard and embrace the use of real money. Digital currency can be easily tracked, allowing the government to monitor all financial transactions. This could lead to unconstitutional and extensive surveillance of individuals’ financial activities, eroding personal privacy and potentially freezing assets, which is already happening in other countries.