Marjorie Taylor Greene slams GENIUS Act once again
Pooja Rajkumari
Tue, December 9, 2025 at 7:31 PM EST
2 min read
In this article:
Sen. Marjorie Taylor Greene (R-Ga.) has reignited her criticism of the Government-Enhanced National Infrastructure for Unified Stability (GENIUS) Act, a sweeping crypto-focused law signed during Donald Trump’s second presidential term.
The legislation, signed into law on July 18, establishes a federal framework for stablecoin regulation, marking the first major piece of crypto legislation enacted in the United States.
Related: Wall Street's GENIUS Act could spell trouble for the largest stablecoin issuer
Greene refused to back the bill
The GENIUS Act establishes reserve, transparency, and oversight standards for issuers of stablecoins, digital assets designed to maintain a stable value by being pegged to traditional currencies, such as the U.S. dollar, or commodities like gold.
Trump praised Sen. Bill Hagerty (R-Tenn.) for sponsoring the bill, which cleared the Senate on June 17 with a bipartisan vote of 68–30 before passing the House on July 17.
However, Greene was among a small group of lawmakers who voted against the measure.
At the time, she took to X to explain her opposition, warning that the legislation could pave the way for a central bank digital currency (CBDC):
“Remember when Canada froze the truckers’ bank accounts and crypto when they protested against vaccine mandates? Congress is passing a bill today (GENIUS Act) that opens the back door to a CBDC... Why are we passing bills to lay the groundwork for a CBDC that can be used against us in the future by another authoritarian regime?... I’m voting no!”
While the GENIUS Act does not explicitly authorize a CBDC, critics argue that several of its provisions could indirectly enable one.
The law establishes a federal licensing and oversight framework for stablecoin issuers, granting the U.S. Treasury and Federal Reserve authority to supervise reserve management, audit compliance, and approve new issuers.
Specifically, the Act allows the Federal Reserve to coordinate with payment service providers and develop technical standards for interoperable digital asset transactions.
Additionally, the Act empowers federal regulators to suspend, restrict, or modify stablecoin operations in cases of systemic risk, which critics view as a potential precedent for centralized transaction control.
More News:
Renewed criticism over ‘CBDC loophole’
On Dec. 9, Greene reiterated her concerns, claiming that House Speaker Mike Johnson had failed to fulfill his promise to include a CBDC ban, originally proposed by Rep. Tom Emmer (R-Minn.), in the National Defense Authorization Act (NDAA).
Story Continues
“Back in July, I voted no on the GENIUS Act because it contained a back door to a CBDC... Johnson promised conservatives he would put Tom Emmer’s bill in the NDAA... As usual, he didn’t keep his promise,” Greene wrote on X.
“I support crypto, but I will never support giving the government the ability to turn off your ability to have full control of your money and to buy and sell.”
Related: The power of CBDCs: could the government really 'turn off' our finances?
This story was originally published by TheStreet on Dec 9, 2025, where it first appeared in the Policy section. Add TheStreet as a Preferred Source by clicking here.
View Comments