The European Central Bank is in the final stage of investigating the digital euro project, which aims to create a digital currency accessible to all citizens of the euro area.
"By tracking every financial transaction, they will have access to every detail of our spending, the recipient of our money, and how we allocate our resources," says Kiyosaki.
The proposed digital currency in Texas would be unique as it would be based on a physical asset, gold, and each unit of the digital currency issued would represent a particular fraction of a troy ounce of gold held in trust.
Last week, 25 of the largest banks in the United States recorded a $90 billion outflow of deposits after initially seeing an increase in deposits following the collapse of Silicon Valley Bank (SVB).
Customers of small U.S. banks pulled a record $119.9 billion of deposits in the seven days ending March 15, data released by the Federal Reserve showed Friday.
Ted Cruz introduces legislation to prevent the U.S. Federal Reserve from creating a digital currency to avoid financial surveillance and government control over Americans' financial information.
