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CBDC Ban: Florida Governor Opposes To Federal Issuance Of Digital Currency

Press Releases Crypto News Bitcoinist CBDC Ban: Florida Governor Opposes To Federal Issuance Of Digital Currency

Governor Ron DeSantis of Florida has proposed legislation that aims to protect residents of the state from the potential risks associated with a central bank digital currency (CBDC) and the increased government surveillance that may come with it.

Governor DeSantis has expressed his concerns regarding the potential risks associated with a central bank digital currency, including the possibility of increased government surveillance and the loss of individual privacy.

Additionally, he has argued that the use of CBDCs may threaten the financial system’s stability and could lead to inflation. He argued:

Today’s announcement will protect Florida consumers and businesses from the reckless adoption of a ‘centralized digital dollar’ which will stifle innovation and promote government-sanctioned surveillance.

Florida Follows Texas Steps To Prevent The Issuance Of CDBCs

Governor DeSantis’ proposed legislation is the latest instance of states taking measures to counter perceived threats from the federal government in response to the potential issuance of a CBDC. Other states, such as Wyoming and Texas, have taken action regarding these assets in 2021.

Texas passed a law in May 2021 that forbids government entities from mandating individuals to provide their identifying information for accessing or using digital currencies. Additionally, the law prohibits the state from confiscating digital currencies unless linked to criminal investigations.

Similarly, in March 2021, Wyoming passed a law acknowledging digital currencies as property and establishing a legal framework for their ownership and use. Additionally, this law includes provisions aimed at safeguarding user privacy, such as prohibiting the di

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Author: Ronaldo Marquez

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