Rep. Marjorie Taylor Greene has delivered a scathing rebuke of the recently signed GENIUS Act, warning that the landmark stablecoin legislation serves as a Trojan horse for implementing a Central Bank Digital Currency (CBDC) in the United States.
The Georgia Republican, who chairs the DOGE Committee, voted against the bill and criticized lawmakers for passing legislation that she claims the American public “hardly has any idea what it is, what it means, and what passed.”
Trump Signs GENIUS Act Into Law
US President Donald Trump signed the GENIUS Act into law on Friday after months of congressional debate and two previous rejections. While supporters tout the legislation as providing crucial regulatory clarity for stablecoins and fostering crypto innovation, Greene argues it opens a dangerous pathway toward a cashless society controlled by government-issued digital currency.
The congresswoman’s warnings center on her belief that the Federal Reserve has been planning a CBDC implementation for years, and that the GENIUS Act provides the regulatory framework necessary to advance those plans.
“This bill regulates stablecoins and provides for the backdoor Centralized Bank Digital Currency,” Greene stated, arguing that such a system could be “weaponized against you by an authoritarian government controlling your ability to buy and sell.”
Greene’s concerns reflect broader conservative opposition to CBDCs, which critics view as potential tools for government surveillance and control over individual financial transactions. She questioned whether Americans should trust their government with such power, particularly given historical precedents of government overreach during economic crises and political conflicts.
Mixed Results In Legislative Efforts
While Greene opposed the GENIUS Act, her voting record this week reflects a nuanced approach to cryptocurrency legislation based on her assessment of individual bills’ implications for financial freedom. She supported the Anti-CBDC Surveillance State Act, which would explicitly prohibit Federal Reserve Banks from issuing a Central Bank Digital Currency, though she acknowledged the bill faces insurmountable obstacles in the Senate where it lacks the 60 votes needed to overcome a filibuster.
Greene also backed the Clarity Act, comprehensive legislation that establishes a detailed regulatory framework dividing authority between the Commodity Futures Trading Commission and the Securities and Exchange Commission. However, her support comes with strict conditions: she has threatened to vote against the bill if Senate revisions remove self-custody protections that she considers essential for preserving individual financial autonomy.
“The most important thing that needs to remain is protecting people’s self-custody of their digital currency,” Greene emphasized, drawing a line in the sand for future legislative negotiations. Her position reflects growing Republican concern that regulatory frameworks could inadvertently restrict Americans’ ability to maintain direct control over their digital assets without intermediary oversight.
Greene’s opposition illustrates the complex political dynamics surrounding cryptocurrency regulation, where traditional partisan lines blur as lawmakers grapple with balancing innovation, economic competitiveness, and civil liberties concerns. Her warnings about CBDC implementation through seemingly unrelated stablecoin legislation underscore the high stakes involved in crafting America’s digital currency regulatory framework.
