The U.S. Congress is currently considering legislation to regulate stablecoins, with the GENIUS Act and STABLE Act being two key proposals. However, experts like Jennifer J. Schulp, Director of Financial Regulation Studies at the Cato Institute, are raising concerns that these laws could unintentionally lead to increased government surveillance of users. 🗣️ Schulp argues that applying the Bank Secrecy Act (BSA) regulations to stablecoin issuers would result in comprehensive tracking of user transactions, potentially eroding privacy rights. She calls for a balanced approach, advocating for anti-money laundering measures without compromising innovation and privacy protection. Schulp believes stablecoins should enhance payment efficiency while remaining independent from government surveillance tools.