Part 6/9:
Critics of the legislation suggest that Democrats’ opposition is rooted in their larger agenda for digital currency control. Unlike traditional cryptocurrencies that are often decentralized and less prone to government oversight, a “digital dollar” issued by the Federal Reserve would allow the government to monitor financial transactions closely. Hence, the desire for a digital dollar that enables tracking individuals’ monetary movements stands at odds with a more liberal use of decentralized finance that many younger Americans, particularly those in Generation Z, have embraced.