Florida Governor DeSantis Vetoes Centralized Digital Dollar Usage

Governor Ron DeSantis of Florida enacted legislation on Friday that prohibits the deployment of a “centralized digital dollar,” otherwise referred to as a central bank digital currency (CBDC), within the state.

DeSantis’ Stance on CBDCs

DeSantis has consistently expressed criticism towards CBDCs, categorizing them as a part of “woke politics” that he is determined to counteract. Now, the Florida law section that characterizes money expressly states: “The term does not include a central bank digital currency.”

Claims Against Biden’s Administration

In a press conference, DeSantis speculated that the Biden administration declared its intention to examine CBDCs last year because it aims to “outcompete and eradicate other forms of digital assets, such as cryptocurrency.”

Implications of Centralized Digital Currency

Standing behind a podium labeled “Big Brother’s Digital Dollar,” DeSantis proposed a hypothetical scenario where the government could utilize CBDCs to deter individuals from purchasing gasoline in an attempt to mitigate global warming, or monitor the frequency of someone’s firearm purchases.

He further elaborated, “Anyone paying attention could discern the risk this kind of setup would pose for Americans seeking to maintain their financial autonomy and desiring to carry out transactions without the government tracking each and every transaction they execute in real time.”