Florida Governor Bans CBDC

Ron DeSantis, the governor of Florida, has banned central bank digital currency (CBDC). 

On May 12th, Governor Ron DeSantis signed a bill into law, effectively prohibiting the utilization of central bank digital currency (CBDC) within the state of Florida.

Governor Ron DeSantis has justified his decision by asserting that the implementation of central bank digital currency would compromise the privacy of Florida's residents. He aims to proactively safeguard against potential threats and preserve financial independence. As an example, he has cited the COVID-imposed restrictions as a crackdown on basic rights, further reinforcing his commitment to protecting individual liberties.

“Once they have the ability to run a central bank digital currency, they’re going to be able to have a window into what you’re doing with the money and have the ability to control where that money is going,” DeSantis commented on this decision.

Speaking at a live conference on May 12, he also added that, should the executive branch want to, they can stop the implementation of CBDC federally if you have an administration that is so inclined to do it.

DeSantis has been an ardent opponent of the CBDC, claiming it would allow the authorities to monitor every transaction. He also explained why, in his opinion, the government doesn’t like crypto. According to him, it’s because they can’t control it.

“So they want to put everything in a central bank digital currency,” he said.

DeSantis is a controversial American politician known for his heavy anti-immigration rhetoric, the desire to build a wall at the border with Mexico, and refusal to let “woke politics ‘prevail.

Previously, The Coinomist reported that commercial English banks could be denied access to CBDCs.