Ron DeSantis Criticizes CBDCs and Vows to Ban Them if Elected
Ron DeSantis, a presidential candidate in the United States, once again voiced his criticism of central bank digital currencies (CBDCs) and opposed the idea of a digital dollar in the country.
DeSantis made a commitment at the Family Leadership Summit on July 14 to prohibit CBDCs in the United States.During the event in Iowa, where six other Republican candidates were present, he stated, “If I am the president, on day one, we will nix central bank digital currency. Done. Dead. Not happening in this country.”
DeSantis has consistently opposed the introduction of a digital dollar. In Florida, he recently passed a bill that prohibits the use of federal CBDCs as money and also bans the utilization of foreign CBDCs. He argues that such measures would result in a “massive transfer of power from consumers to a central authority.”
A central bank digital currency is essentially a digital version of fiat currency issued by a central bank, providing the conveniences of digital assets. DeSantis firmly opposes its implementation, emphasizing the need to protect consumer rights and prevent undue concentration of power.
DeSantis has consistently opposed the introduction of a digital dollar. In Florida, he recently passed a bill that prohibits the use of federal CBDCs as money and also bans the utilization of foreign CBDCs. He argues that such measures would result in a “massive transfer of power from consumers to a central authority.”
A central bank digital currency is essentially a digital version of fiat currency issued by a central bank, providing the conveniences of digital assets. DeSantis firmly opposes its implementation, emphasizing the need to protect consumer rights and prevent undue concentration of power.
