Florida Governor Ron DeSantis has issued a ban on the use of Central Bank Digital Currencies (CBDCs) in the state.
In a surprising move, Florida Governor Ron DeSantis has implemented a ban on the creation and usage of Central Bank Digital Currencies (CBDCs) in the state. This decision also safeguards Florida residents from the forthcoming introduction of a digital currency issued by the Federal Reserve, planned for this summer, thanks to the newly enacted legislation.
Florida Bans Use Of CBDCs
Florida’s 46th governor, Ron DeSantis, has expressed concerns regarding the potential risks associated with a government-regulated digital currency. In March, he introduced new legislation aimed at prohibiting the use of government-backed digital currency, citing potential drawbacks.
The proposed bill in Florida aims to prevent Central Bank Digital Currencies (CBDCs) from being recognized as legal tender under the Florida Uniform Commercial Code. The bill also includes measures to safeguard the state from external pressures to adopt a central currency. Governor DeSantis has called on other states to unite and pass similar legislation.