US Lawmaker Torches GENIUS Act: ’A Trojan Horse for Government-Issued Digital Control’

Washington's crypto clash heats up as a fiery congressman slams the GENIUS Act—branding it a backdoor to centralized financial surveillance. Critics warn it could bulldoze decentralized ideals while regulators play catch-up with blockchain's end-run around legacy systems.

When lawmakers fear code more than corruption, you know the system's upside down. Meanwhile, Wall Street quietly stacks Bitcoin ETFs—hypocrisy tastes better when it's profit-flavored.

Three crypto bills create mixed regulatory outcomes

Greene outlined her voting positions on three cryptocurrency bills considered by Congress.

While opposing the GENIUS Act, she supported the Anti-CBDC Surveillance State Act, which prohibits Federal Reserve Banks from issuing Central Bank Digital Currencies.

This week Congress passed crypto legislation.

The American people hardly have any idea what it is, what it means, and what passed.

1. GENUIS ACT – I voted NO. It passed the Senate and the House and will be signed into law today.
This bill regulates stablecoins and provides for…

“This bill prohibits Federal Reserve Banks from issuing a Central Bank Digital Currency. It’s a good bill and protects your money, but will die in the Senate,” Greene stated. She noted that Senate leadership indicated insufficient votes to pass the CBDC prohibition.

Greene also supported the Clarity Act for its self-custody protections, though she warned about potential Senate modifications.

“I will vote NO when it comes back if self custody protections are taken out,” Greene declared.

The congresswoman connected current digital currency developments to the 1971 decision to abandon the Gold standard, which she called “ridiculous” and blamed for weakening the dollar.

Greene warned about transitioning from physical cash that can be “held in your hand, hide from the government, and save for yourself and your family” to digital systems.

Critics question Trump administration priorities

Former State Representative Tim Cahill agreed with Greene’s concerns. He mentioned that such policies would be implemented under President TRUMP despite previous opposition rhetoric.

Cahill cited E-ZPass toll systems as an example of how the adoption of cashless payments leads to increased surveillance and fees.

“He’s more concerned with making any deal possible then actually making the right deal,” Cahill wrote [sic].