US Congressman Marjorie Taylor Greene has said that the GENIUS stablecoin bill provides a "backdoor" for governments to create central bank digital currencies (CBDCs), disguised only as privately issued cryptocurrency tokens. The lawmaker noted that regulated stablecoins have "functional surveillance capabilities" that make them essentially indistinguishable from CBDCs.
In another post from social media, she added: "This bill regulates stablecoins and provides a backdoor to central bank digital currencies. The Federal Reserve has been planning a CBDC for years, and this will open the door to a cashless society, bringing you into a digital currency system that can be weaponised by authoritarian governments who can control whether you can buy or sell things."
Green's remarks coincide with growing concerns in the bitcoin and cryptocurrency communities that regulated stablecoins could become state-controlled and ultimately government-controlled.
US lawmakers warn of GENIUS bill, calling it a "Trojan horse" for central bank digital currencies
2025-07-19 23:33:01
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