US congressmen issue warning over GENIUS bill, calling it a 'Trojan horse' for central bank digital currencies

According to Golden Finance, US Congressman Marjorie Taylor Greene stated that the GENIUS stablecoin bill provides a "backdoor" for the government to create a central bank digital currency (CBDC), disguised as a privately issued cryptocurrency token. The legislator pointed out that regulated stablecoins have "functional monitoring capabilities" that make them essentially indistinguishable from CBDCs. She added in another social media post, 'This bill regulates stablecoins and provides a backdoor for central bank digital currencies. The Federal Reserve has been planning a CBDC for years, and this will open the door to a cashless society, taking you into a digital currency system that can be weaponized by authoritarian governments who can control whether you can buy or sell things.'. ” The remarks of Congressman Green coincide with the growing concerns of the Bitcoin and cryptocurrency communities, who are increasingly wary that regulated stablecoins may be controlled by the state and ultimately become tools of government control.