CoinVoice has learned that, according to Cointelegraph, U.S. Representative Warren Davidson warns that the United States is sliding into a financial system that requires licensing and is under strict surveillance. He believes that recent cryptocurrency legislation undermines the industry's original promise of private money that does not require permission. Warren Davidson posted on X criticizing the "Genius Act" (GENIUS Act), which focuses on stablecoins, arguing that the bill will lead to a wholesale version of a U.S. dollar central bank digital currency (CBDC), which could be used for "surveillance, coercion, and control." He also expressed concern that a digital identity system might be introduced in the future, forcing Americans to obtain government permission to use their own currency.