CBDC: Florida Governor Ron DeSantis Wants to Ban CBDCs

The adoption of Central Bank Digital Currencies (CBDC) has grown recently. Global nations are embracing CBDCs as countries adopt blockchain technology and cryptocurrency acceptance is on the rise. In 2022, there will also have been further significant advances related to digital currencies issued by central banks.

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CBDCs have emerged as a better choice for governments all around the world due to their less volatile nature and the fact that they are managed by the government. However, not all governments are pro-CBDC. Florida Governor Ron DeSantis recently gave a statement expressing his willingness to ban CBDCs in Florida.

Florida governor doesn’t embrace CBDCs

During a conference, he also expressed his desire to pass a law that would forbid the use of CBDC as money in the state. The speech from DeSantis comes at a time when nations around the world are embracing the idea of central bank digital currencies.

DeSanti addressed: “I am here to call on the legislature to pass legislation to expressly forbid the use of CBDC as money within Florida’s Uniform commercial code.”

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DeSantis also spoke out against the government having access to personal transactions. A CBDC is said to provide officials with a “direct picture of all consumer activity.” He implied that the establishment of such a digital currency would lead to information misuse. He also stressed how CBDCs and cryptocurrencies are different, highlighting the difference in the nature of decentralization.

However, despite his comment, governments across the globe are trying to implement CBDCs and run pilot tests to push them out to the public.

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