U.S. Congressman: The U.S. Is Fostering Digital Identity and "Wholesale CBDC" Surveillance Risks

Techub News reports, according to Cointelegraph, U.S. Representative Warren Davidson stated that the United States is sliding towards a "permissioned and heavily monitored" financial system. He specifically named the stablecoin-focused Clarity for Payment Stablecoins Act, suggesting it could give rise to a "wholesale CBDC" for the dollar and be used for "surveillance, coercion, and control." He also indicated that the potential future introduction of a digital identity system could lead to a situation where people need government permission to use their funds.