Governor Ron DeSantis of the US state of Florida has proposed legislation to ban the use of central bank digital currency (CBDC) as money in his state. “The Biden administration’s efforts to inject a centralized banking digital currency are all about surveillance and control,” the governor warned.
Governor Ron DeSantis Proposes Bill to Prevent Financial ‘Weaponization’ Through a CBDC
Florida Gov. Ron DeSantis announced “comprehensive legislation” on Monday to protect consumers and businesses in his state “from the Biden administration’s weaponizing of the financial sector through a central bank digital currency (CBDC). )”.
Governor DeSantis warned:
The Biden administration’s efforts to inject a centralized banking digital currency are all 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’ that 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 currency within Florida’s Uniform Commercial Code (UCC), the announcement details, adding that it also prohibits any CBDC issued by a foreign reserve or bank. plant sanctioned abroad.
The CEO of the Foundation for Government Accountability, Tarren Bragdon, noted that this proposal sets back “a powerful federal government,” explaining:
Our money says In God We Trust. Central bank digital currency changes that to In Government We Trust. That’s wrong, and I’m 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 disguised as an update to UCC guidelines, but it paves the way for a CBDC and does not allow the use of cryptocurrencies, such as bitcoin, as a form of currency. She urged 20 other states, including Florida, that are about to consider a similar bill to “block passage of this legislation.”
Like Noem, Governor DeSantis is calling on other states to fight the updated UCC guidelines that pave the way for a CBDC. In his Monday announcement, DeSantis called on “like-minded states to join Florida in adopting similar prohibitions within their respective Business Codes to fight this concept across the country.”
Noting that “a central bank digital currency is the cornerstone of a federal government that could track each and every transaction that occurs in the world,” state chief financial officer Jimmy Patronis emphasized:
There would be no privacy, and if there is no privacy, there are no rights. In the same way that Florida is fighting the IRS, we must fight this program. This is how we protect freedom, freedom and prosperity.
Several CBDC-related bills have been introduced in the US Congress. Last month, US Representative Tom Emmer (R-MN) introduced the statewide Anti-Central Bank Digital Currency (CBDC) Surveillance Act. “to stop the efforts of unelected bureaucrats” to “strip Americans of their right to financial privacy.” Last year, US Senator Ted Cruz (R-TX) introduced legislation “to prohibit the Federal Reserve from issuing a central bank digital currency directly to the people.”
What do you think about Governor Ron DeSantis’ proposal to ban the use of central bank digital currency as money? Let us know in the comments section.
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