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Ron DeSantis vows to ban CDBCs in the US if elected president

July 15, 2023No Comments

United States presidential candidate, Ron DeSantis, criticized again central bank digital currencies (CBDCs)arguing against the possibility of a digital dollar in the country.

Speaking at the Family Leadership Summit on July 14, DeSantis vowed to ban CBDCs in the US if he is elected president. "If I am the president, on the first day, we will Nix central bank digital currency. Made. Dead. It's not happening in this country,โ€ he said during the event in Iowa, which featured six other Republican candidates.

DeSantis is a vocal opponent of a digital dollar in the United States. In May, he passed a bill in Florida that prohibits the use of federal CBDCs as money, as well as banning the use of foreign CBDCs, claiming it would lead to a "massive transfer of power from consumers to a central authority."

Tucker Carlson and Ron DeSantis during the Family Leadership Summit. Source: NBC News.

A central bank digital currency is not much different from a traditional central bank issued currency. Can define itself as a digital version of fiat currencybringing with it the advantages of digital assets.

However, it has long been a source of controversy in the crypto community, with opponents claiming that CBDCs threaten the privacy of citizens and could lead to outright government control, while others see it as a tool to boost privacy. adoption, as well as a global use case for blockchain. technology.

According to Cointelegraph's CBDC databaseCBDC projects have grown significantly in recent years, with more than 100 countries exploring the topic and at least 39 nations having a CBDC pilot, proof of concept, or other related initiatives underway.

The US Federal Reserve reportedly has no plans issue a digital dollar soon, but this may change after next year's elections, as more candidates are discussing cryptocurrency-related issues during their early campaigns. Robert F. Kennedy Jr. has been promoting Bitcoin since May as part of his campaign for the Democratic nomination for president. he recently revealed up to $250,000 worth of Bitcoin investments.

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