• Ron DeSantis, the Republican governor of Florida, has signed a bill preventing the issuance and use of centralized bank digital currencies (CBDCs) in his state.
• DeSantis believes that all Floridians have the right to privacy and autonomy, something CBDCs will eventually take away.
• Crypto was originally designed to give users full independence and control over their finances, something CBDCs go against.
Ron DeSantis Signs Anti-CBDC Crypto Bill into Law
Ron DeSantis – the republican governor of Florida – has signed a new bill into law preventing the issuance and use of centralized bank digital currencies (CBDCs) in his state.
DeSantis Concerned About CBDCs
Just over a week ago, DeSantis issued his thoughts on CBDCs and made his dislike of these assets clear. He stated in a press conference that he is concerned about CBDCs given they would be issued by standard institutions, thus allowing monetary executives and ultimately government figures to spy and look in on what people were doing with their money and how they were spending their hard-earned dollars.
DeSantis Wants To Protect Financial Independence
DeSantis said he believes all Floridians have a right to privacy and autonomy, something central bank digital currencies will eventually get in the way of. He commented that anyone with their eyes open could see the danger this type of an arrangement would mean for Americans who want to exercise their financial independence and would like to be able to conduct business without having the government know every single transaction they’re making in real time.
Crypto Designed For Financial Freedom
The reason crypto is decentralized is because it was built to ensure no middlemen, prying eyes, or third parties could enter the arena and tell users what they could or could not do; it was designed for people to have full independence over their finances. Central bank digital currencies go against this very notion as they allow governments to keep track of user’s transactions in real time.
In order to protect users‘ rights of financial freedom from being taken away by governments issuing central bank digital currencies, Ron De Santis has put his words into action by signing a bill ensuring that CBDCs cannot be issued nor used by residents in Florida.