U.S. lawmakers warn that the GENIUS Act is a "Trojan Horse" for Central Bank Digital Money.

[US Congress members warn that the GENIUS Act is a ‘Trojan Horse’ for Central Bank Digital Currency] US Congress member Marjorie Taylor Greene stated that the GENIUS stablecoin bill provides a ‘backdoor’ for the government to create Central Bank Digital Currency (CBDC), disguised as a privately issued crypto assets token. The congresswoman pointed out that regulated stablecoins have ‘functional monitoring capabilities,’ making them no different in essence from CBDCs. In another social media post, she added: “This bill regulates stablecoins and provides a backdoor for Central Bank Digital Currency. The Federal Reserve has been planning a CBDC for years, and this will open the door to a cashless society, leading you into a digital money system that can be weaponized by authoritarian governments, allowing them to control whether you can buy or sell things.” The remarks by Congressman Green resonate with the growing concerns of the Bitcoin and crypto assets community, as people are increasingly wary that regulated stablecoins may be controlled by the state, ultimately becoming tools of government control.