Governor Ron DeSantis vows to ban CBDC in Florida if the federal government passes a ban
Ron DeSantis, governor of Florida, has vowed to prevent the use of any central bank digital currency (CBDC) in his state should the federal government issue one.
In a new speech at a law signing ceremony, the prospective US presidential candidate for 2024 warns that CBDC is an invasion of people’s financial privacy and would be used to attempt to block cryptocurrency.
“The risk with digital money is that, for one, they want to replace all other currencies with it. They wish to eliminate cryptocurrency. However, they dislike crypto because they cannot regulate it.
Therefore, they propose switching to a digital currency controlled by a single institution. And I guarantee that if they are ever able to get away with it, they will add ESG (environmental, social, and governance standards) and social credit scores. And that will severely limit individual liberties in the United States.”
President Joe Biden issued an executive order last year directing the federal government to investigate the possibility of establishing a central bank digital dollar. DeSantis pledges to enact legislation prohibiting the use of CBDCs as currency in Florida if they are ever issued by the federal government.
“I do not believe Congress would approve it. Florida has a law that prevents the Fed or the Treasury from acting unilaterally in this matter. And I believe that this ensures your financial independence and prevents a financial surveillance state in which your every financial transaction is monitored. I believe that to be profoundly incorrect. We recognise the risks associated with this agenda.”