Marjorie Taylor Greene is concerned about the potential for a global digital currency. That’s why she wants cryptocoins protected, she says.
Marjorie Taylor Greene is no exception, but unsurprisingly, she has a convoluted reasoning with a full-fledged conspiracy theory to explain why crypto is so important.
Marjorie Taylor Greene claims Democrats “want us all to be under one digital currency” and says, “we have to protect crypto.” pic.twitter.com/1Axj8dsEPt
— PatriotTakes 🇺🇸 (@patriottakes) February 20, 2022
In the dystopian fantasy world that only plays out inside Greene’s own head, apparently, Democrats are working to unite the world under a single cash-free currency, and this is a big red warning flag for her. Therefore, she says, it’s necessary to protect cryptocurrency.
Is she aware that crpyto, too, is a digital currency that isn’t confined to a single nation?
Slate covered the right’s new obsession with crypto last month, citing NYT columnist Paul Krugman’s opinion that it’s related to the distrust in institutions that former President Donald Trump sowed, noting that the currency is intended to “function without trust,” and that “the modern right is all about fostering distrust.”
The National Law Review notes another important factor to consider with cryptocurrency: money laundering.
“Bitcoin transactions actually have the ability to make money laundering easier for criminals because cryptocurrencies are conducted, transferred, and stored online and allow cybercriminals to move their funds instantly across borders.”
Of course, one doesn’t have to be laundering money to want to dodge government oversight, and Republicans have also made a lot of noise over a recent banking regulation proposal that they misrepresented as spying on individual transactions, while, as the Associated Press explained, it would actually not have looked at individual transactions at all, only total annual flows, for the purposes of decreasing tax evasion.
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Steph Bazzle reports on social issues and religion for Hill Reporter. She focuses on stories that speak to everyone's right to practice what they believe in and receive the support of their communities and government officials. You can reach her at Steph@HillReporter.com