Governments and central banks are building the tools for programmable money, which would let them control how, where, and when you spend your paycheck — bad news for financial privacy and personal freedom.

• Programmable money has rules built into the currency itself, so the issuer can decide what it can buy.
• Examples include money that expires after a set time, only works inside your state, or blocks purchases like meat, certain crypto, or energy.
• The technology to do all this already exists today.
• The legal framework to actually roll it out is being put in place right now.

Outlook: Expect more central bank digital currency pilots and regulations that lay the groundwork for spending controls in the coming months.