Rep. Warren Davidson criticizes the GENIUS Act, warning it could pave the way for a government-controlled CBDC and mandatory digital IDs, eroding permissionless money freedoms.
Rep. Warren Davidson has warned that recent U.S. crypto legislation, specifically the GENIUS Act, could undermine permissionless private money by enabling a wholesale Central Bank Digital Currency (CBDC) and a government-linked digital ID system. He argued that such measures would require official permission to use currency, increasing surveillance and reducing financial freedom. Davidson urged adherence to Bitcoin’s foundational principles of decentralization and censorship resistance as safeguards.