{"id":5204,"date":"2025-07-21T03:09:20","date_gmt":"2025-07-21T03:09:20","guid":{"rendered":"https:\/\/bitunikey.com\/news\/us-lawmaker-blasts-genius-act-calls-it-gateway-to-government-controlled-money\/"},"modified":"2025-07-21T03:09:23","modified_gmt":"2025-07-21T03:09:23","slug":"us-lawmaker-blasts-genius-act-calls-it-gateway-to-government-controlled-money","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/us-lawmaker-blasts-genius-act-calls-it-gateway-to-government-controlled-money\/","title":{"rendered":"US lawmaker blasts GENIUS Act: Calls it gateway to government-controlled money"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Representative Marjorie Taylor Greene has condemned the GENIUS Act as a backdoor mechanism for implementing a central bank digital currency.<\/p>\n<p>She also voted against the legislation that passed both chambers of Congress.<\/p>\n<p>The Georgia congresswoman warned that the stablecoin regulation bill opens the path to \u201ca cashless society and into digital currency that can be weaponized against you by an authoritarian government.\u201d<\/p>\n<p>Greene expressed distrust of government control over monetary systems and questioned whether Americans should trust authorities \u201cto never do that to you.\u201d<\/p>\n<p>She characterized the legislation as allowing government control over citizens\u2019 ability to buy and sell through digital currency systems.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h3 class=\"wp-block-heading\">Three crypto bills create mixed regulatory outcomes<\/h3>\n<p>Greene outlined her voting positions on three cryptocurrency bills considered by Congress.<\/p>\n<p>While opposing the GENIUS Act, she supported the Anti-CBDC Surveillance State Act, which prohibits Federal Reserve Banks from issuing Central Bank Digital Currencies.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">This week Congress passed crypto legislation.<\/p>\n<p>The American people hardly have any idea what it is, what it means, and what passed.<\/p>\n<p>1. GENUIS ACT &#8211; I voted NO. It passed the Senate and the House and will be signed into law today. <br \/>This bill regulates stablecoins and provides for\u2026<\/p>\n<p>&mdash; Rep. Marjorie Taylor Greene\ud83c\uddfa\ud83c\uddf8 (@RepMTG) <a href=\"https:\/\/twitter.com\/RepMTG\/status\/1946195769519649237?ref_src=twsrc%5Etfw\">July 18, 2025<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div>\n<\/figure>\n<p>\u201cThis bill prohibits Federal Reserve Banks from issuing a Central Bank Digital Currency. It\u2019s a good bill and protects your money, but will die in the Senate,\u201d Greene stated. She noted that Senate leadership indicated insufficient votes to pass the CBDC prohibition.<\/p>\n<p>Greene also supported the Clarity Act for its self-custody protections, though she warned about potential Senate modifications.<\/p>\n<p>\u201cI will vote NO when it comes back if self custody protections are taken out,\u201d Greene declared.<\/p>\n<p>The congresswoman connected current digital currency developments to the 1971 decision to abandon the gold standard, which she called \u201cridiculous\u201d and blamed for weakening the dollar.<\/p>\n<p>Greene warned about transitioning from physical cash that can be \u201cheld in your hand, hide from the government, and save for yourself and your family\u201d to digital systems.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h3 class=\"wp-block-heading\">Critics question Trump administration priorities<\/h3>\n<p>Former State Representative Tim Cahill <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/NHVOICEOFFICIAL\/status\/1946231667141611567\" target=\"_blank\">agreed<\/a> with Greene\u2019s concerns. He mentioned that such policies would be implemented under President Trump despite previous opposition rhetoric.<\/p>\n<p>Cahill cited E-ZPass toll systems as an example of how the adoption of cashless payments leads to increased surveillance and fees.<\/p>\n<p>\u201cHe\u2019s more concerned with making any deal possible then actually making the right deal,\u201d Cahill wrote [sic].<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Representative Marjorie Taylor Greene has condemned the GENIUS Act as a backdoor mechanism for implementing a central bank digital currency. She also voted against the legislation that passed both chambers&hellip;<\/p>\n","protected":false},"author":1,"featured_media":5205,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5204","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/5204","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=5204"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/5204\/revisions"}],"predecessor-version":[{"id":5206,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/5204\/revisions\/5206"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/5205"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=5204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=5204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=5204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}