US Crypto Laws Risk It Becoming a Globalist Surveillance State
Rep. Warren Davidson warns that recent US crypto legislation risks creating a surveillance state via CBDCs and digital IDs.Summary
US Representative Warren Davidson expressed strong concerns that current crypto legislation, particularly the stablecoin-focused GENIUS Act, is pushing the United States toward a heavily surveilled, permissioned financial system. He argued that the GENIUS Act enables a wholesale version of a US dollar Central Bank Digital Currency (CBDC) that could be used for surveillance, coercion, and control, potentially requiring citizens to obtain government permission to use their own money via a Digital ID system. Davidson urged a return to the first principles of Bitcoin: permissionless, peer-to-peer payments. Fellow Representative Marjorie Taylor Greene echoed these fears, voting against the GENIUS Act because it opens a "back door" for a CBDC and threatens self-custody. While both support the CLARITY Act as a potential fix, Davidson believes that if the GENIUS Act passes, any positive changes from CLARITY will be largely cosmetic, leading to a future where money is permissioned, surveilled, and debased.
(Source：Cointelegraph)