Congresswoman Marjorie Taylor Greene has sharply criticized the recently passed GENIUS Act, which regulates stablecoins and may lead to centralized financial control.
Greene's View on the GENIUS Act
Marjorie Taylor Greene condemned the GENIUS Act as a backdoor to implementing a central bank digital currency. She warned that this bill leads to a 'cashless society and into digital currency that can be weaponized against you by an authoritarian government.' Greene expressed distrust in government control over monetary systems.
Voting on Cryptocurrency Bills
Greene opposed the GENIUS Act but supported the Anti-CBDC Surveillance State Act, which prohibits Federal Reserve Banks from issuing Central Bank Digital Currencies. She stated, 'This bill protects your money but will likely die in the Senate.'
Criticism and Concerns
Greene linked current developments in digital currencies to the 1971 decision to abandon the gold standard, calling it 'ridiculous' and responsible for weakening the dollar. She warned about the transition from physical cash, which can be 'held in your hand, hidden from the government, and saved for yourself and your family,' to digital systems.
Marjorie Taylor Greene's comments reveal significant concerns regarding new cryptocurrency legislation, emphasizing the risks of losing control and freedom over financial transactions.
