Florida Gov. Ron DeSantis (R) on Friday signed legislation effectively banning any Central Bank Digital Currency (CBDC) in the Sunshine State — a move he teased earlier this year.
we need to study this, we need to see what would happen with CBDC [and] how that would work. And I don’t think they would have done that if they don’t intend on implementing this,” DeSantis said, explaining that CBDC would essentially be a “digital dollar” controlled entirely by the Fed. Because of that, the government would effectively be able to track where an individual’s money is going and control it as well.
“I think they want to crowd out and eliminate other types of digital assets like cryptocurrency because they can’t control that. So they don’t like that.
“Maybe you bought a firearm last week [and] they don’t want you to buy another one this week. So that would empower the government to do, I think, a lot of things that would not be conducive to freedom,” he explained, making the case that one cannot trust the government’s reasons or claims on this issue, even if it claims its original intentions are pure.
“I think that anyone with their eyes open could see the dangers, that this type of an arrangement would mean for Americans who want to exercise their financial independence, and we’d like to be able to conduct business without having the government know every single transaction that they’re making in real time,” the governor continued, explaining that there was a movement among the states to add CBDC to their uniform commercial codes. That, however, will not happen in Florida.
“We are not going to be adding central bank digital currency to our Uniform Commercial Code. But we also said, you know what? We need to provide protections for Floridians against this. And so we’ll put in the Uniform Commercial Code, that is something we don’t recognize,” he said.
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