Ron DeSantis Pledges to Prohibit Central Bank Digital Currencies (CBDCs) in the US if Elected President

Ron DeSantis, a candidate in the United States presidential race, has once again expressed his strong opposition to central bank digital currencies (CBDCs) and pledged to ban their implementation in the country if he assumes the presidency.

During his speech at the Family Leadership Summit on July 14, DeSantis made it clear that on his first day in office, he would put an end to any plans for a central bank digital currency in the United States. Speaking in Iowa alongside other Republican candidates, he firmly 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 voiced his concerns about the introduction of a digital dollar in the US. In May, he successfully passed a bill in Florida that prohibits the use of federal CBDCs as legal tender and also bans the utilization of foreign CBDCs. DeSantis argued that CBDCs would result in an excessive transfer of power from consumers to a centralized authority.

While central bank digital currencies share similarities with traditional fiat currencies issued by central banks, they are digital versions that offer the advantages of digital assets. However, CBDCs have sparked controversy within the crypto community. Opponents argue that they pose threats to individuals’ privacy and could potentially enable excessive government control. On the other hand, proponents see CBDCs as a means to drive adoption and a global use case for blockchain technology.

CBDC database reveals a significant increase in CBDC projects globally, with more than 100 countries exploring the concept and at least 39 nations actively engaged in CBDC pilots, proof-of-concept initiatives, or related endeavors.

The US Federal Reserve has reportedly not made immediate plans to issue a digital dollar. However, with the upcoming presidential election, the landscape may change as more candidates delve into crypto-related discussions during their early campaign stages. For instance, Robert F. Kennedy Jr., a Democratic nominee hopeful, has been advocating for Bitcoin since May and recently disclosed Bitcoin investments worth up to $250,000 as part of his campaign.

For more news, find me on Twitter or subscribe to my YouTube channel.

What is your opinion on this issue? Leave me your comment below! I’m always interested in your opinion!

Leave a Reply

Your email address will not be published. Required fields are marked *

Recommended for you