US Representative: Digital Identity and CBDC Could Turn the US into a "Surveillance Nation"

[US Representative: Digital Identity and CBDC Could Turn the US into a "Surveillance Nation"] According to a report by Cointelegraph, US Representative Warren Davidson warned that the US is sliding towards a permissioned and heavily monitored financial system. He believes that recently passed cryptocurrency legislation undermines the industry's initial promise of permissionless private currencies. Davidson criticized the Genius Act, which focuses on stablecoins, in a post on the X forum, arguing that it will give rise to a wholesale version of a US central bank digital currency (CBDC) that could be used for "surveillance, coercion, and control." He also worries that a digital identity system could be introduced in the future, forcing Americans to obtain government permission to use their own currency.