Florida Governor Ron DeSantis warns of attempt to eliminate cryptocurrency

  • Florida Governor Ron DeSantis accuses individuals of wanting to eliminate cryptocurrency.
  • This week, DeSantis announced that a bill to prohibit the use of central bank digital currencies is moving forward in Florida.

Florida Governor Ron DeSantis announced that his state would take action against any central bank digital currency, with legislation being advanced that could reach his desk in the coming weeks.

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During a press conference on May 2, Florida Governor Ron DeSantis announced that his state is not in favor of central bank digital currencies (CBDCs) and that legislation is advancing to prevent them. DeSantis argued that CBDCs could give the government too much control over people’s finances, potentially resulting in fines or seizure of assets without due process. press conference

The Republican governor has been critical of central control in digital currencies but has shown support for decentralized cryptocurrencies since the government cannot control them.

Governor Ron DeSantis of Florida, who is seen as a potential candidate for the 2024 presidential race, has previously accused President Joe Biden of using digital currencies for “surveillance and control.” DeSantis announced the proposed legislation to ban centralized digital currencies in the state in March and recently stated that the legislation is moving forward and could reach his desk in a few weeks.  previously accused

On Tuesday, Florida Governor Ron DeSantis commented on the ongoing crackdown on the crypto sector by the U.S. Securities and Exchange Commission (SEC). Meanwhile, Coinbase, a U.S.-listed crypto exchange, has filed a lawsuit against the SEC, demanding clear rules.

Crypto crackdown

DeSantis believes that there are people who want to eliminate cryptocurrencies because they can’t be controlled. He added that this is why they want to switch everything to a central bank digital currency, which can be regulated by the government.

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DeSantis stated that if someone wants to invest in crypto, it’s their choice and they can do it.

DeSantis did not provide more information about the people he believes are against cryptocurrencies when asked by reporters. He suggested that an “elite” group with significant financial and corporate resources is behind the anti-crypto agenda.

DeSantis stated that the legislation being prepared in Florida would protect the state from any future U.S. central bank digital currency, even though such a currency has not yet been established.

DeSantis cautions against the emergence of a ‘financial surveillance state’.

DeSantis said that if the Federal Reserve or the Treasury department tries to establish a central bank digital currency without congressional approval, Florida would prohibit it. He added that such a move would lead to a financial surveillance state where the government can track every transaction, and the legislation will prevent it from happening.

DeSantis had expressed his disapproval of centralized digital currencies in the past year, but he had shown support for decentralized tokens and even considered allowing Floridians to pay taxes with crypto.  friendlier approach

The Biden administration is considering the possibility of a CBDC system in the US, and the Federal Reserve and Treasury Department are researching in this area to develop  policy objectives.

  • This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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