CBDCs have officially been made banned in Florida, which makes it the first state in the US to do so.
Florida Governor Ron DeSantis formally banned the usage of Central Bank Digital Currencies (CBDCs) across the state on Friday.
The Florida Governor, Ron DeSantis, has officially outlawed the issuance and usage of Central Bank Digital Currencies (CBDCs) in the state, which comes as a shock to the US government. The new legislation will also protect Floridians from the introduction of a digital currency created by the Federal Reserve, which is anticipated to occur this year’s summer.
Florida Prohibits Using CBDCs
The 46th governor of Florida hasn’t been shy about stating his opinion that a digital currency regulated by the government may have a number of catastrophic drawbacks. In light of this, DeSantis brought out a new bill in March of this year that would make using the digital currency with government backing illegal.
The bill specifically seeks to make it illegal to treat any CBDC as a form of legal tender under the Florida Uniform Commercial Code. Additionally, it has put measures in place to protect the nation from any foreign pressure to adopt the central currency. DeSantis additionally requested the governments of the other US states to come together to pass legislation of a similar kind.
Florida Bans a Central Bank Digital Currency https://t.co/S8UfWrLZyc
— Ron DeSantis (@GovRonDeSantis) May 12, 2023
DeSantis’ Battle with the CBDC
DeSantis announced his plan to outlaw the use of CBDCs in a press release on March 20. He also said that investors and consumers would be protected from the proliferation of digital currencies, which challenged the freedom and security of Florida residents.
DeSantis was reported as saying the following while taking a shot at the US government:
By using a Central Bank Digital Currency, it will safeguard Floridians from the Biden administration’s weaponization of the financial industry.
The 44-year-old Republican has previously made similar assertions, claiming that the introduction of a digital currency by the government is about “surveillance and control” and violates the privacy of Floridians.
Following the release of this cryptocurrency news, the price of Bitcoin decreased by 0.08% over the course of the previous hour and is now trading at $26,321.57.