U.S. lawmakers warn that the GENIUS Act is a Trojan horse for CBDC

ChainCatcher news, according to Cointelegraph, U.S. Congresswoman Marjorie Taylor Greene stated that the "GENIUS Stablecoin Act" opens a "backdoor" for the government to implement central bank digital currency (CBDC), merely disguised as privately issued crypto tokens. She pointed out that regulated stablecoins possess "functional monitoring capabilities," which are essentially no different from CBDCs.

Greene further stated on social media: "This bill paves the way for CBDCs by regulating stablecoins. The Federal Reserve has been planning CBDCs for years, and this is a key step towards a cashless society. It could evolve into a digital currency system controlled by a totalitarian government, deciding whether you have the right to buy and sell goods."

Her remarks align with the increasingly strong concerns within the crypto community—more and more people are wary that regulated stablecoins may just be a prelude to state control over digital assets.