The newly passed Genius Act is being hailed as a game-changer that could cement the U.S. dollar’s dominance in the digital age. By requiring stablecoins to be backed 1:1 with U.S. dollars or short-term Treasuries, it promises to strengthen national security, cut wire fees, and pump trillions into America’s debt market.

But economist Christian Briggs warns of the hidden dangers: shifting monetary power from the Federal Reserve to profit-driven corporations, real-time surveillance of every transaction, and the terrifying possibility of accounts frozen without due process. While it could supercharge U.S. innovation and manufacturing, in the wrong hands it could mirror China’s social credit system—where your money is controlled by politics, not freedom.