Governor of Florida Introduces Legislation to Ban CBDCs

Hey Peeps!

On March 20th, Governor Ron DeSantis of Florida announced state legislation that will outright ban central bank digital currencies (CBDC) in the state of Florida.

The proposed legislation seeks to prohibit CBDCs from being used as money, within the state, by making an amendment to Florida’s Uniform Commercial Code (UCC).

The last part of the proposal calls on all states to join Florida in their ban against CBDCs and "to fight back against this concept nationwide".

It is important to note that this legislative proposal will apply to both individuals and businesses within the state of Florida. 

“Today’s announcement will protect Florida consumers and businesses from the reckless adoption of a ‘centralized digital dollar’ which will stifle innovation and promote government-sanctioned surveillance. Florida will not side with economic central planners; we will not adopt policies that threaten personal economic freedom and security.”

- Governor Ron DeSantis

The rest of the posted announcement is basically political rhetoric by Governor DeSantis, as he criticizes President Joe Biden's administration, by calling the introduction of CBDCs an attack on individual privacy and economic freedom.

I am not sure CBDCs is a political issue, as it is more about privacy and how much more control do you actually want to give to the Government.

Giving the government the ability to see all CBDC transactions made by citizens is not a good idea in my opinion. 

It could potentially lead to situations where the government can cut off access to goods and services for specific individuals. 

I try not to play into any of the politics, but I can certainly get behind this move to push back against CBDCs, regardless of which political party was leading the charge.

I hope to see more states follow the path of Florida and introduce their own anti-CBDC legislation. 

What are your thoughts on this news?

Would you welcome more states joining Florida and banning CBDCs?

Do you think all 50 states in USA could ban CBDCs from being adopted?

See ya!

:)