Techub News reports that U.S. Congressman Warren Davidson stated that the United States is sliding toward a financial system that is "licensed and heavily monitored," and specifically mentioned the "Genius Act," which focuses on stablecoins. He believes it could lead to the creation of a wholesale USD "CBDC" and be used for "surveillance, coercion, and control." He also mentioned that in the future, the introduction of a digital identity system could require citizens to obtain government permission when using funds.

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