US Representative Warren Davidson warns the US is drifting toward a permissioned and heavily surveilled financial system, arguing that recent crypto legislation undermines the industry’s original promise of permissionless, private money.
In a post on X on Wednesday, Davidson criticized the stablecoin-focused GENIUS Act, arguing it enables a wholesale version of a US dollar central bank digital currency (CBDC) that could be used for “surveillance, coercion, and control.”
He also fears a digital ID system will be rolled out that forces Americans to get government permission to use their own money.
“Do not be deceived,” Davidson said.
“We need to reject this globalist surveillance state and return to first principles,” he added, reminding his 86,600 X followers that Bitcoin’s original promise was less about being an illiquid, inflation-hedging asset, and more about being a permissionless, peer-to-peer payment system.
Davidson has been one of the fiercest advocates of permissionless money, self-custody and privacy in Congress since he started representing Ohio in 2016. He has introduced various legislation aimed at restricting state control over crypto, criminalizing CBDCs and even one that sought to fire then Securities and Exchange Commission chair, Gary Gensler.
Davidson isn’t alone in this fight
Representative Marjorie Taylor Greene said she voted no to the GENIUS Act, arguing that it hands power over to the banks while opening a “back door” for a CBDC.
“The real danger lies in Digital ID, CBDC, and no self custody,” Greene said, echoing Davidson’s remarks.
CLARITY Act more promising, but its impact may be limited
Both Davidson and Greene appeared more supportive of the CLARITY Act, which is awaiting passage in the Senate and is expected to be marked up in early 2026.
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“CLARITY promises to fix some of the deficiencies in GENIUS by protecting self-custody and incorporating other House provisions,” Davidson said.
But with the GENIUS Act in effect, Davidson said any changes to individual freedom coming from the CLARITY Act will be largely cosmetic.
“The future of money will determine the future. Without massive divine intervention, that future looks permissioned, surveilled, and debased.”
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