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Florida Governor Ron DeSantis Vows to Eradicate Central Bank Digital Currencies

Potential US Presidential Candidate Expresses Strong Disapproval at Family Leadership Summit

Mon, 17 Jul 2023, 08:02 am UTC

Waging a Fierce War Against Digital Dollars: Ron DeSantis Takes Aim at CBDCs

Florida Governor and US Presidential hopeful, Ron DeSantis, intensifies his battle against central bank digital currencies (CBDCs). Pledging to eliminate their existence if elected President, DeSantis raises concerns about the growing influence of digital currencies within the United States.

At the Family Leadership Summit in Iowa on July 14, DeSantis passionately voiced his disdain for CBDCs, drawing a clear line in the sand. His determination to halt their operation reflects his ongoing efforts to combat digital dollars.

DeSantis has already taken significant steps in Florida by enacting a law prohibiting the use of federal CBDCs as a form of money. He further curtailed the use of foreign CBDCs, arguing that such currencies could shift power from consumers to a centralized authority.

While CBDCs resemble traditional fiat currencies issued by central banks, their digitized form has ignited controversy within the crypto community. Concerns about privacy infringement and government overreach have been raised, even as some view CBDCs as a potential catalyst for wider blockchain technology adoption.

With more than 100 countries exploring CBDCs and 39 nations already conducting pilots or similar initiatives, the possibility of the United States Federal Reserve launching a digital dollar remains uncertain. However, the landscape could shift following next year's election.

Presidential candidates are increasingly focusing on crypto-related issues. Democratic candidate Robert F. Kennedy Jr., for instance, has been an advocate for Bitcoin since May, publicly disclosing Bitcoin investments of up to $250,000 as part of his campaign.

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