Bill Text: TX SCR8 | 2025-2026 | 89th Legislature | Enrolled
Bill Title: Expressing opposition to the creation of a central bank digital currency.
Sponsorship: Partisan Bill (Republican 3)
Status: (Passed) 2025-06-20 - Signed by the Governor [SCR8 Detail]
Download: Texas-2025-SCR8-Enrolled.html
| S.C.R. No. 8 | ||
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| WHEREAS, The Federal Reserve is exploring the potential | ||
| benefits and risks of implementing a central bank digital currency, | ||
| but it has not given sufficient consideration to key issues | ||
| regarding privacy and cybersecurity; and | ||
| WHEREAS, A central bank digital currency (CBDC) is a digital | ||
| form of money that is a liability of the Federal Reserve, rather | ||
| than a liability of commercial banks; retail CBDCs are issued to the | ||
| general public, establishing a direct relationship between the | ||
| Federal Reserve and consumers; this could lead to unprecedented | ||
| levels of government surveillance and control over private cash | ||
| holdings and transactions; and | ||
| WHEREAS, A number of global leaders have expressed concern | ||
| about the threat of cyber risk to financial stability, and CBDC | ||
| vulnerabilities could be exploited to compromise a nation's | ||
| financial system; many CBDC proposals involve the centralized | ||
| collection of transaction data, which poses major privacy and | ||
| security risks, such as making it easier for intruders to access the | ||
| data of more users; however, proposals that include strategies to | ||
| minimize those risks often reduce transparency for regulators | ||
| seeking to detect money laundering, terrorism financing, and other | ||
| illicit activities; and | ||
| WHEREAS, The implementation of a CBDC would make countless | ||
| U.S. citizens more vulnerable to intrusive federal oversight and | ||
| security threats; now, therefore, be it | ||
| RESOLVED, That the 89th Legislature of the State of Texas | ||
| hereby express its opposition to the creation of a central bank | ||
| digital currency. | ||
| ______________________________ | ______________________________ | |
| President of the Senate | Speaker of the House | |
| ______________________________ | ______________________________ | |
| President of the Senate | Speaker of the House | |
| I hereby certify that S.C.R. No. 8 was adopted by the Senate | ||
| on March 27, 2025, by the following vote: Yeas 30, Nays 0. | ||
| ______________________________ | ||
| Secretary of the Senate | ||
| I hereby certify that S.C.R. No. 8 was adopted by the House | ||
| on May 23, 2025, by the following vote: Yeas 124, Nays 9, | ||
| one present not voting. | ||
| ______________________________ | ||
| Chief Clerk of the House | ||
| Approved: | ||
| ______________________________ | ||
| Date | ||
| ______________________________ | ||
| Governor | ||
