US Congressman: Digital Identity and CBDC Could Turn the US into a "Surveillance State"

MarsBitNews · 2026-01-01T05:44:46+00:00

US Congressman Warren Davidson warns that recent cryptocurrency legislation could lead to a permissioned financial system, undermining the original intent of private currencies. He criticizes the "Genius Act" for facilitating the emergence of central bank digital currencies, which could be used for surveillance and control, and expresses concern about the potential future development of government-permitted digital identity systems.

MarsBitNews

2026-01-01 05:44:46

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Mars Finance reports that according to Cointelegraph, U.S. Representative Warren Davidson warns that the United States is sliding into a financial system that requires licenses and is under strict surveillance. He believes that the recent cryptocurrency legislation undermines the industry’s original promise of private, permissionless money. Warren Davidson posted on X criticizing the “Genius Act” (GENIUS Act), which focuses on stablecoins, arguing that the bill will lead to a wholesale version of a U.S. dollar central bank digital currency (CBDC), which could be used for “surveillance, coercion, and control.” He is also concerned that a digital identity system might be introduced in the future, forcing Americans to obtain government permission to use their own money.

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