Florida governor takes a stand against CBDCs
Governor of Florida Ron DeSantis has strongly criticized the implementation of a digital dollar in the US, particularly in Florida. Furthermore, he has initiated changes in the state’s legislation, effectively banning the use of CBDCs on Florida’s territory.
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The governor of Florida, Ron DeSantis, has announced changes to local legislation to protect residents from the federal central bank's digital currency (CBDC), which he believes is a tool for the state's excessive control over citizens.
Governor DeSantis' proposal includes amending the Florida Uniform Commercial Code to unequivocally prohibit the use of federal or any other foreign CBDC as a payment method within the state's territory.
According to the governor, CBDC is seen as a “weapon of the Biden administration” aimed at the financial sector and citizens of the United States.
Ron DeSantis stands against CBDCs in Florida
It is worth noting that DeSantis is a member of the Republican Party, which is in opposition to the currently ruling Democratic Party represented by President Biden. Thus, in addition to righteous anger over the denial of citizens' freedoms and rights, politics is also involved here, as is often the case in the United States.
Governor DeSantis' bill is aimed at protecting individuals and businesses in the state from the federal CBDC through:
- a direct ban on the use of the Federal Reserve Bank's digital dollar as currency, with corresponding changes to Florida's Uniform Commercial Code (UCC);
- restrictions on the use of state digital currencies by prohibiting any CBDC issued by foreign central banks, particularly those under sanctions;
- calling on other states to join Florida's initiative and implement similar bans in their commercial codes to combat the concept of CBDC nationwide.
Senator Ted Cruz from the state of Texas has answered the call of Florida's governor and supported his initiative. Cruz himself has initiated a bill which bans the Federal Reserve from launching their own digital currency that targets retail clients.
As we can see, the “States versus Federal CBDC” train has begun to pick up speed in the US.
It is worth noting that DeSantis is a member of the Republican Party, which is in opposition to the currently ruling Democratic Party represented by President Biden. Thus, in addition to righteous anger over the denial of citizens' freedoms and rights, politics is also involved here. This is often the case in the United States.
Governor DeSantis' bill is aimed at protecting individuals and businesses in the state from the federal CBDC through:
- A ban on the use of the Federal Reserve Bank's digital dollar as currency, with corresponding changes to Florida's Uniform Commercial Code (UCC);
- Restrictions on state digital currencies by prohibiting CBDC issued by foreign central banks, particularly those under sanctions;
- Calling on other states to join Florida's initiative and implement similar bans in their commercial codes to combat CBDC nationwide.
The Biden administration’s efforts to inject a Centralized Bank Digital Currency are about surveillance and control,” said Governor Ron DeSantis. “Today’s announcement will protect Florida consumers and businesses from the reckless adoption of a centralized digital dollar. This will stifle innovation and promote government-sanctioned surveillance. Florida will not side with economic central planners; we will not adopt policies that threaten personal economic freedom and privacy.
Governor DeSantis is ahead of the curve when it comes to protecting individual rights. A Central Bank Digital Currency is the cornerstone of a federal government that could track each and every transaction that happens in the world,” said State Chief Financial Officer Jimmy Patronis. “There would be no privacy, and if there is no privacy, there are no rights. Like Florida fights back against the IRS, we need to fight back against this program. It’s how we protect freedom, liberty, and prosperity.
This proposal continues the strong track record of Governor DeSantis pushing back on an overreaching federal government,” said Foundation for Government Accountability CEO Tarren Bragdon. “Our money says In God We Trust. The central bank digital currency changes that to In Government We Trust. That’s wrong and I am grateful for the Governor’s continued pushback of an out-of-control DC bureaucracy.
Senator Ted Cruz from Texas has answered Florida's governor's call and supported his initiative. Cruz himself has introduced a bill banning the Federal Reserve from launching their own digital currency that targets retail clients.
As we can see, the “States versus Federal CBDC” train has begun to pick up speed in the US.
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