CBDCs to be Banned in the US if Ron DeSantis Becomes President
- The 46th governor of Florida, Ron DeSantis, said that he will ban the use of CBDCs as money.
- DeSantis is running for the 47th Presidential election in the US and has said that he will “nix” CBDC if elected.
- He was present at the Family Leadership Summit earlier this week in Iowa along with six other Republican candidates.
- DeSantis has recently passed a bill in Florida that prohibits the use of federal CBDCs as money.
An American politician serving as the 46th governor of Florida since 2019, Ron DeSantis, has stated that he will ban the creation and usage of central bank digital currencies (CBDCs) if he were to be elected as the 47th President of the United States of America. DeSantis is one of the crypto-friendly candidates that aim to capitalize on the unrest in the blockchain industry regarding the treatment of cryptocurrencies by the Joe Biden administration.
Speaking at the Family Leadership Summit earlier this week in Iowa, DeSantis said that “if I am the president, on day one, we will nix central bank digital currency. Done. Dead. Not happening in this country,” in the presence of six other Republican candidates for the Presidency. It is clear that the candidate is against CBDCs like the digital dollar.
It is crucial to note that DeSantis has recently passed a bill in Florida that prohibits the use of federal CBDCs as money and the use of foreign central bank digital currencies in the state. As per the Presidential candidate, usage of the digital dollar would lead to a “massive transfer of power from consumers to a central authority.”
Interestingly, CBDCs are not that much different from fiat currencies, with the only difference being that the former is based on the blockchain and brings with it, the conveniences of digital assets. The digital version of fiat currencies has been a controversial topic of discussion among industry leaders for a long time.
As per a research conducted by CoinTelegraph, a crypto media outlet, over 100 countries are exploring the topic of CBDCs, and at least 39 nations have either a pilot program or a proof-of-concept.
The Federal Reserve under the Biden administration has expressed no intention of releasing a digital dollar in the near future. However, this could change in the upcoming Presidential cycle as more and more candidates discuss crypto in their early campaign speeches. As reported earlier by BitcoinWisdom, Vivek Ramaswamy, another candidate, stated that he would accept Bitcoin as a donation for his campaign.
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
