Why the GENIUS Act Could Unlock CBDC Surveillance Without Creating One

For many, the passage of the GENIUS Act closed the doors on the creation of a Central Bank Digital Currency (CBDC). Stablecoins, though digital, were marketed as a private form of currency, in contrast to a government-issued digital dollar. Aaron Day, a fellow at the Brownstone Institute and a staunch critic of the crypto industry, argued that the GENIUS Act facilitates increased government surveillance despite this ban. Surveillance Concerns Under the GENIUS Act The GENIUS Act explicitly prevents the Federal Reserve from issuing a CBDC directly to individuals or through a third party source: https://beincrypto.com/genius-act-lead-cbdc-surveillance-stablecoins/