FL Gov. DeSantis Proposes Ban on Central Bank Digital Currency Use as Money

Governor Ron DeSantis of the U.S. state of Florida has proposed legislation to prohibit the use of central bank digital currency (CBDC) as money in his state. “The Biden administration’s efforts to inject a centralized bank digital currency is about surveillance and control,” the governor warned.

Governor Ron DeSantis Proposes Law to Prevent Financial ‘Weaponization’ Through a CBDC

Florida Governor Ron DeSantis announced “comprehensive legislation” Monday to protect consumers and businesses in his state “from the Biden administration’s weaponization of the financial sector through a central bank digital currency (CBDC).”

Governor DeSantis warned:

The Biden administration’s efforts to inject a centralized bank digital currency is about surveillance and control.

He added that the proposed legislation will protect consumers and businesses in his state “from the reckless adoption of a ‘centralized digital dollar’ which will stifle innovation and promote government-sanctioned surveillance.” The governor also noted that CBDCs are not the same as decentralized cryptocurrencies, such as bitcoin (BTC).

The legislative proposal prohibits the use of a federally adopted central bank digital currency as money within Florida’s Uniform Commercial Code (UCC), the announcement details, adding that it also prohibits any CBDCs issued by a foreign reserve or foreign-sanctioned central bank.

Foundation for Government Accountability CEO Tarren Bragdon noted that this proposal pushes back on “an overreaching federal government,” elaborating:

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.

Earlier this month, South Dakota Governor Kristi Noem vetoed a bill that was disguised as an update to the UCC guidelines but paves the way for a CBDC while disallowing the use of cryptocurrencies,

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Author: Kevin Helms

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