Georgia Rep. Marjorie Taylor Greene Slams Fednow Project, Pushes for Gold Standard – Bitcoin News


On Wednesday, Marjorie Taylor Greene (MTG), a Republican member of the U.S. House of Representatives, shared an article on the Federal Reserve’s Fednow project and expressed her criticism of the central bank’s digital currency efforts. The Georgia Representative argued that the U.S. should be reverting to the “gold standard” and said she’s taking a “hard pass” on digital payment systems.

MTG Criticizes U.S. Central Bank’s Fednow Digital Currency Scheme

Representative Marjorie Taylor Greene (R-GA), known for her outspoken opinions and controversial statements, has been serving Georgia’s 14th congressional district since 2020. On April 5. she voiced her disapproval of the U.S. central bank’s Fednow Project, which suggests the U.S. should move away from digital currency payments systems and back to the gold standard. “Hard pass,” added the Congresswoman. GreeneMTG (or MTG) joins other Republican politicians in her opposition to a central banking digital currency (CBDC).

Texas Senator Ted Cruz and Florida Governor Ron DeSantis have both introduced legislation against CBDCs. MTG’s stance on permissionless cryptocurrencies such as bitcoin (BTC) and ethereum (ETH) is “unclear,” according to Coinbase’s report on the Georgia representative. Coinbase’s report, which covers Congressional leaders’ views on crypto assets, mentions that there is “not enough data to determine” Greene’s true opinion. Nonetheless, the report states that MTG spoke on Twitter against Canadian prime minister Justin Trudeau’s actions against a convoy of truckers.

“As Trudeau has gone full dictator in Canada and is stealing Canadians’ crypto wallets, Democrats and big banks are lining up to take their cut of #crypto and #blockchain,” tweeted Greene. “Joe ‘the big guy’ Biden always gets his cut. Protect crypto owners’ rights,” she added. In November 2022, MTG appeared on the “America First with Sebastian Gorka” podcast in an episode called “Your Bitcoin is in Danger.” During the press briefing, the politician discussed the purported theory that crypto funds were sent to Sam Bankman-Fried’s FTX from Ukraine.

Many people think that CBDCs would be harmful for the environment. Economist Richard Werner called the July launch of Fednow “suspicious.” Former Republican Representative from Texas, Ron Paul, also criticized the Fednow Payment system, which was established three years ago. He encouraged crypto competition instead. He said, “I’m all for cryptocurrencies and blockchain technology because I like competing currencies.” Senator Elizabeth Warren (D-MA), has described herself as “anti-crypto,” and recently released statements that denigrated competing currencies like bitcoin and called for the U.S. to move towards a CBDC.

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Do you agree with Marjorie Taylor Greene’s criticism of the Fednow Project and her suggestion to return to the gold standard? Share your thoughts in the comment section below.

Jamie Redman

Jamie Redman is the News Lead at News. He is a financial tech journalist living in Florida. Since 2011, Redman has been an active participant in the cryptocurrency community. He has a passion for open-source code and decentralized applications. Since September 2015, Redman has written more than 6,000 articles. Learn more about disruptive protocols that are emerging today.

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