PANews reported on July 20 that according to Cointelegraph, U.S. Congresswoman Marjorie Taylor Greene said that the GENIUS Stablecoin Act opened a "backdoor" for the government to create a centralPANews reported on July 20 that according to Cointelegraph, U.S. Congresswoman Marjorie Taylor Greene said that the GENIUS Stablecoin Act opened a "backdoor" for the government to create a central

US Congressman warns against GENIUS Act, calling it a CBDC Trojan Horse

2025/07/20 09:18

PANews reported on July 20 that according to Cointelegraph, U.S. Congresswoman Marjorie Taylor Greene said that the GENIUS Stablecoin Act opened a "backdoor" for the government to create a central bank digital currency (under the guise of privately issued crypto tokens). "This bill regulates stablecoins and provides a backdoor for central bank digital currencies. The Federal Reserve has been planning CBDC for many years, which will open the door to a cashless society and digital currencies for you, and an authoritarian government that controls your ability to buy and sell may use these digital currencies against you."

Some critics believe that the line between central bank digital currencies and centrally managed, government-regulated stablecoins is blurred. Bitcoin advocate Justin Bechler wrote in an X post: "The GENIUS Act forces stablecoins to comply with and control CBDCs; functionally the same as CBDCs, but without the scary name." Saifedean Ammous, author of The Bitcoin Standard, believes that no matter what form it appears, the US dollar is essentially a central bank digital currency that is already subject to state surveillance and is increasingly digital. Jean Rausis, co-founder of the Smardex decentralized trading platform, said: "Governments realize that if they control stablecoins, they control financial transactions."

Market Opportunity
The AI Prophecy Logo
The AI Prophecy Price(ACT)
$0.037
$0.037$0.037
+3.90%
USD
The AI Prophecy (ACT) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Shocking OpenVPP Partnership Claim Draws Urgent Scrutiny

Shocking OpenVPP Partnership Claim Draws Urgent Scrutiny

The post Shocking OpenVPP Partnership Claim Draws Urgent Scrutiny appeared on BitcoinEthereumNews.com. The cryptocurrency world is buzzing with a recent controversy surrounding a bold OpenVPP partnership claim. This week, OpenVPP (OVPP) announced what it presented as a significant collaboration with the U.S. government in the innovative field of energy tokenization. However, this claim quickly drew the sharp eye of on-chain analyst ZachXBT, who highlighted a swift and official rebuttal that has sent ripples through the digital asset community. What Sparked the OpenVPP Partnership Claim Controversy? The core of the issue revolves around OpenVPP’s assertion of a U.S. government partnership. This kind of collaboration would typically be a monumental endorsement for any private cryptocurrency project, especially given the current regulatory climate. Such a partnership could signify a new era of mainstream adoption and legitimacy for energy tokenization initiatives. OpenVPP initially claimed cooperation with the U.S. government. This alleged partnership was said to be in the domain of energy tokenization. The announcement generated considerable interest and discussion online. ZachXBT, known for his diligent on-chain investigations, was quick to flag the development. He brought attention to the fact that U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce had directly addressed the OpenVPP partnership claim. Her response, delivered within hours, was unequivocal and starkly contradicted OpenVPP’s narrative. How Did Regulatory Authorities Respond to the OpenVPP Partnership Claim? Commissioner Hester Peirce’s statement was a crucial turning point in this unfolding story. She clearly stated that the SEC, as an agency, does not engage in partnerships with private cryptocurrency projects. This response effectively dismantled the credibility of OpenVPP’s initial announcement regarding their supposed government collaboration. Peirce’s swift clarification underscores a fundamental principle of regulatory bodies: maintaining impartiality and avoiding endorsements of private entities. Her statement serves as a vital reminder to the crypto community about the official stance of government agencies concerning private ventures. Moreover, ZachXBT’s analysis…
Share
BitcoinEthereumNews2025/09/18 02:13
Coinbase Joins Ethereum Foundation to Back Open Intents Framework

Coinbase Joins Ethereum Foundation to Back Open Intents Framework

Coinbase Payments has joined the Open Intents Framework as a core contributor, working alongside Ethereum Foundation and other major players. The initiative aims to simplify complex multi-chain interactions through automated solver technology. The post Coinbase Joins Ethereum Foundation to Back Open Intents Framework appeared first on Coinspeaker.
Share
Coinspeaker2025/09/18 02:43
Unleashing A New Era Of Seller Empowerment

Unleashing A New Era Of Seller Empowerment

The post Unleashing A New Era Of Seller Empowerment appeared on BitcoinEthereumNews.com. Amazon AI Agent: Unleashing A New Era Of Seller Empowerment Skip to content Home AI News Amazon AI Agent: Unleashing a New Era of Seller Empowerment Source: https://bitcoinworld.co.in/amazon-ai-seller-tools/
Share
BitcoinEthereumNews2025/09/18 00:10