Florida’s Governor Proposes New Legislation to Ban CBDCs
The governor of Florida, Ron DeSantis, has recently called for a ban against the CBDCs project issued by the Federal Reserve. To join him on the cause, he has called upon the support from the Coalition of States to back him.
He has issued a recent public statement where he claimed that he intends to make sure that the people of Florida never have to use any type of CBDC as a form of acceptable money. During his address, he claimed that he was calling for the legislatures in the country to bar the issuance of CBDCs.
He invoked the Commercial Code of Florida to provide the legal context for imposing a ban on any type of CBDC pilot. At the same time, he said that these changes would protect the rights of Floridian people to keep contributing to innovation in the financial and technology sectors.
He also shared that he was taking a position against the CBDC introduction to rebuke the idea of covert surveillance of the masses by government agencies. He claimed that people have a right to maintain privacy over their financial matters.
It is important to mention that CBDCs or Central Bank Digital Currencies are digitized forms of fiat currencies that are issued by the Central Bank. However, there are concerns among many users if the government can have a direct way to collect the personal financial data of its users through CBDCs.
During his speech, De Santis claimed that, at present, the world is under the influence of the Chinese government and monetary policies. He likened the adoption of the CBDC standard to comply with the Chinese standard since China has already issued its CBDC project.
However, the governor of Florida has called for a legislative ban on any type of CBDC issuance by foreign reserves or other government institutions that are backed by the Central Banks. He claimed that these steps would ensure that the personal data of the users within the USA is not shared with any foreign nations.
He also wanted to ensure that any efforts to adopt a standardized international currency in Florida should be revoked at all levels.
Texas also Wants to Ban Federal CBDC
Speaking to the public, he exclaimed that other politicians, such as the head of the Senate and the Lieutenant Governor of Texas, have joined the cause. He claimed that there are more chances that the government of Texas is going to move in the same direction as Florida in terms of the CBDCs ban.
He claimed that his party is working on getting a wider consensus from the public and other states on the matter to ensure that such type of unchecked power is not granted to any Central Bank or other government agency. He claimed that cash is the king, and the person who can hold it in their hands has the power.
He claimed that as soon as cash is converted into a digital form, it means the start of someone else’s control over your cash. He claimed that it means that the people using digital cash would only be able to live their lives according to the rules dictated by the government.
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