{"id":20567,"date":"2023-05-04T15:40:26","date_gmt":"2023-05-04T15:40:26","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/anti-cbdc-bill-receives-overwhelming-support-in-house-and-senate-bitcoin-news\/"},"modified":"2023-05-04T15:40:26","modified_gmt":"2023-05-04T15:40:26","slug":"anti-cbdc-bill-receives-overwhelming-support-in-house-and-senate-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/anti-cbdc-bill-receives-overwhelming-support-in-house-and-senate-bitcoin-news\/","title":{"rendered":"Anti-CBDC Bill Receives Overwhelming Support in House and Senate \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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In the wake of Florida Governor Ron DeSantis\u2019 remarks in Jacksonville on Tuesday, both the Florida House of Representatives and Senate have approved the state\u2019s anti-central bank digital currency (CBDC) legislation, dubbed SB 7054. The bill explicitly states that should the U.S. central bank, a federal agency, or a foreign government issue a CBDC, its use as a \u201cdigital medium of exchange\u201d will be strictly forbidden in Florida.<\/strong><\/p>\n

Florida Aims to Protect Privacy with Ban on Central Bank Digital Currencies<\/h2>\n

On Wednesday, the Florida House of Representatives endorsed the anti-CBDC bill SB 7054<\/a> with an overwhelming 116-1 vote<\/a>. This backing comes on the heels of the Florida Senate\u2019s approval last week, which saw a 34-5 majority<\/a>. Governor DeSantis has been vocal in his criticism of CBDC initiatives and asserting Florida\u2019s refusal to accept \u201cwoke politics.\u201d Unsurprisingly, he is eager to sign the bill, having initially requested<\/a> its drafting in March.<\/p>\n

Upon DeSantis\u2019 signature, SB 7054 provisions will come into effect on July 1, 2023. The bill offers a comprehensive definition of CBDCs and outlines its primary objective: \u201cto safeguard Floridians by banning central bank digital currencies.\u201d The author of the legislation confirms that these regulations would have no bearing on state and local revenue or any indeterminate impact on Florida\u2019s private sector.<\/p>\n

Florida\u2019s Chief Financial Officer Jimmy Patronis has championed the bill and maintained that the Biden administration\u2019s priorities will not find fertile ground in the Sunshine State. He argued<\/a> on Wednesday that \u201cThe last thing our country needs is a federally controlled centralized bank digital currency (CBDC) weaponized by the Biden administration,\u201d adding that it would merely enable unwarranted government surveillance of Floridians\u2019 financial data. He emphatically declared:<\/p>\n

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Florida won\u2019t let it stand.<\/p>\n<\/blockquote>\n

Interestingly, several Democratic lawmakers in Florida also supported the anti-CBDC legislation. While opposition to CBDCs has been primarily associated with Republicans, U.S. presidential candidate Robert Kennedy Jr.<\/a> has cautioned against the potential for political suppression via CBDCs. \u201cCBDCs grease the slippery slope to financial slavery and political tyranny,\u201d Kennedy proclaimed<\/a> just last month. Florida\u2019s Republican representative Wyman Duggan expressed pride in witnessing the bill\u2019s passage and its subsequent arrival at Governor DeSantis\u2019 desk.<\/p>\n

Duggan emphasized, \u201cWith this bill, we are looking to protect the privacy of Floridians, and I am so proud that we have seen support from leadership in our State that clearly cares about the wellbeing of our citizens.\u201d<\/p>\n

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\nTags in this story
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anti-CBDC<\/a>, ban<\/a>, CBDC<\/a>, CBDC ban<\/a>, Digital Currency<\/a>, financial privacy<\/a>, Florida<\/a>, Governor Ron DeSantis<\/a>, House of Representatives<\/a>, Legislation<\/a>, opposition<\/a>, political tyranny<\/a>, SB 7054<\/a>, Senate<\/a>, support<\/a><\/div>\n<\/div>\n

What are your thoughts on Florida\u2019s anti-CBDC legislation? Do you believe other states will follow suit, or is this a unique stance taken by Florida? Share your opinions in the comments section below.<\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 7,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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