Florida Governor Ron DeSantis vows to ban the use of central bank digital currencies (CBDC) in the Sunshine State, should the US government issue one.
In a new speech at a law signing event, the potential 2024 U.S. presidential candidate warns that CBDC is an invasion of people’s financial privacy and would also be used to block cryptocurrency.
“The danger of the digital currency is that, first of all, they want to make it the only currency. They want to get rid of crypto. My opinion is that if you want to invest in crypto, it’s up to you. You can do it. You can make those decisions. But they don’t like crypto because they have no control over crypto.
So they want to put everything in a central bank digital currency. And I guarantee that if they ever get away with that, they will impose ESG (environmental, social and governance standards) and social credit scores on that. And that will be a huge restriction on the freedom of the people in this country.”
Last year, US President Joe Biden issued an executive order to the federal government to study the possibility of creating a central bank digital dollar. DeSantis vows to pass legislation to ban CBDCs from being used as money in Florida if it is ever issued by the US government.
“I don’t think Congress would approve it. But if the Fed or the Treasury tries to do it unilaterally, we in Florida have a ban on that. And I think that guarantees your financial independence and ensures that we don’t have a financial oversight state where they know every transaction that you make. I think that is fundamentally wrong. We recognize the dangers of this agenda.”
Last month, DeSantis announced proposed legislation that would implement the CBDC ban.
Don’t Miss Out – Subscribe to receive crypto email alerts delivered straight to your inbox
Check price action
follow us on TwitterFacebook and Telegram
Surf the Daily Hodl mix
Image generated: Midway through the journey
