Of course it will, it's an Act, right? Patriot Act. Make Health Care Affordable Act. etc. But if the goal is dollar dominance and finding buyers of treasuries, then what can the harm be for Americans, or to issuers/users?
Discussion
Mass financial surveillance, more easily frozen and confiscates funds, easily programmable features like expiration dates, etc.
I mean, that’s what will happen to dollarcoin users most likely, but for bitcoiners, is it a problem?
Most people and businesses are still dollarcoin users. Bitcoin individuals, households, and businesses are still dependent on dollarcoin users and businesses. If those users and businesses start falling prey to a hyper weaponized digital dollar there may be less options and more friction for bitcoin users over time.
I think it will be more of a mixed bag, but this is one of the dangers we should be sober minded about.