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Bill

SCR 8

Expressing opposition to the creation of a central bank digital currency.

89th Legislature (2025) Introduced by Giovanni Capriglione and 2 co-sponsors

Texas Legislature formally opposes federal creation of a central bank digital currency, expressing state-level concerns about privacy, banking impacts, and government control of digital money.

Signed by the Governor
#currency&currencyexchange(s0335) #financial--general(i0365) #resolutions--legislativepolicy(i0685)
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Bill Summary · SCR 8

Legislative bill overview

SCR 8 is a concurrent resolution passed by the Texas Legislature expressing the state's opposition to the federal government creating a central bank digital currency (CBDC). The resolution does not create binding law but serves as an official statement of legislative intent and a call for Congress to reject CBDC development.

Why is this important

CBDCs are a significant emerging policy issue with implications for financial privacy, government surveillance capabilities, monetary policy implementation, and the role of traditional banking. Texas's opposition—now signed into law—represents a high-profile state position that may influence other states and contribute to national policy debates over digital currency frameworks.

Potential points of contention

  • Privacy and surveillance concerns: Opponents argue CBDCs enable government tracking of all transactions; supporters counter that properly designed systems can preserve privacy while improving financial efficiency and combating illicit activity
  • Banking system disruption: Critics worry CBDCs could disintermediate commercial banks and destabilize traditional lending; proponents argue they complement rather than replace existing banking infrastructure
  • Federalism and state authority: The resolution reflects Texas asserting a position on federal monetary policy; questions exist about whether states should formally oppose federal financial system changes versus leaving such decisions to federal authorities
  • Cryptocurrency and alternative currency politics: The resolution may reflect broader ideological divisions over decentralized versus government-backed digital currencies, with cryptocurrency advocates sometimes seeing CBDCs as competitors

Compiled from official sources — confirm details with the bill’s official record.

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