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Florida governor signs CBDC bill into law, restricting some uses of US and foreign CBDCs

Press Releases Crypto News Cointelegraph Florida governor signs CBDC bill into law, restricting some uses of US and foreign CBDCs

Florida Governor Ron DeSantis signed a bill restricting the use of central bank digital currencies (CBDCs) in the state, according to local news sources. The governor urged state lawmakers in March to draft the bill.

The new law prohibits the use of a United States federal CBDC “as money within Florida’s Uniform Commercial Code (UCC).” It also bans the use of CBDCs issued by foreign governments and calls on other states to use their commercial codes to institute similar prohibitions.

At the signing ceremony for the bill, DeSantis said he was spurred into action by U.S. President Joe Biden’s administration’s studies of the new financial technology. The United States does not have a CBDC and there are no current plans to introduce one.

DESANTIS ANTI CBDC BILL JUST PASSED THE HOUSE & SENATE

I brought a select few of our members up to Floridas Capitol to meet with

The Governors Team
The Chief Financial Officers team
The Office of Financial Regulation
The anti-CBDC Bill Sponsors

In order for us to push… pic.twitter.com/vnMQxxVoUF

— Samuel Armes (Florida Blockchain Business Assoc.) (@samuelarmes) May 3, 2023

“I don’t think they would have done that if they don’t intend on implementing this,” he said. Were a U.S. CBDC to be issued, it would be “a massive transfer of power from consumers to a central authority.”

DeSantis also saw the potential introduction of a CBDC as a threat to cryptocurrency:

“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.”

The bill the governor Go to Source to See Full Article
Author: Derek Andersen

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