Is The CBDC Backdoor Still Open?

The GENIUS Act, already greenlit by a bipartisan Senate, claims to slap a federal harness on stablecoins. Stablecoins aim for price stability through mechanisms like backing each coin with reserves of cash, bonds, or other assets, or using algorithms to adjust supply demanding they’re backed by cold, hard U.S. dollars and forcing monthly reserve disclosures to keep the crypto wild west honest. The Clarity Act is a tug of war over who gets to leash these digital assets. Will it be the SEC or the Commodity Futures Trading Commission potentially prying them loose from the SEC’s iron grip, a move the crypto rebels have been howling for. The Anti CBDC Surveillance State Act, championed by Republicans, aims to slam the door on a central bank digital currency, citing nightmares of government snooping and control. The possibility of a CBDC remains, and many warn of a sinister backdoor. A legislative sleight of hand that could see these bills, if watered down in the Senate or hitched to must pass juggernauts like the NDAA, could pave the way for a CBDC Trojan horse.

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