{"id":29440,"date":"2023-05-12T18:36:52","date_gmt":"2023-05-13T01:36:52","guid":{"rendered":"https:\/\/coinnetworknews.com\/governor-ron-desantis-signs-bill-prohibiting-use-of-central-bank-digital-currencies-in-florida-bitcoin-news\/"},"modified":"2023-05-12T18:36:52","modified_gmt":"2023-05-13T01:36:52","slug":"governor-ron-desantis-signs-bill-prohibiting-use-of-central-bank-digital-currencies-in-florida-bitcoin-news","status":"publish","type":"post","link":"https:\/\/coinnetworknews.com\/governor-ron-desantis-signs-bill-prohibiting-use-of-central-bank-digital-currencies-in-florida-bitcoin-news\/","title":{"rendered":"Governor Ron DeSantis Signs Bill Prohibiting Use of Central Bank Digital Currencies in Florida \u2013 Bitcoin News"},"content":{"rendered":"
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On Friday Florida\u2019s governor Ron DeSantis signed legislation that bans the use of a central bank digital currency (CBDC) in the state. Following the bill SB 7054 being signed into law, Florida\u2019s Uniform Commercial Code (UCC) now explicitly forbids the use of a federally adopted CBDC as money.<\/strong><\/p>\n

Florida Puts the Brakes on CBDCs<\/h2>\n

The Sunshine State has officially outlawed the use of a central bank digital currency (CBDC) following the approval<\/a> of SB 7054 or HB 7049 by the Florida House of Representatives and Senate. Governor Ron DeSantis put pen to paper and signed the bill<\/a>, cementing the ban on Friday. The signing ceremony, which took place in Fort Myers, was attended by Wilton Simpson, the state\u2019s 13th commissioner of agriculture, and Kathleen Passidomo, president of the Southwest Florida Public Service Academy at Fort Myers Technical College.<\/p>\n

The new anti-CBDC law will come into effect on July 1, 2023. \u201cThey\u2019re going to be able to have the window into what you\u2019re doing with the money and the ability to control where that money is going,\u201d DeSantis said<\/a> during the signing ceremony. \u201cThey could block, if you filled up your gas tank too much, hey, they\u2019re fighting global warming, \u2018You can\u2019t do any more.\u2019 Maybe you bought a firearm last week. They don\u2019t want you to buy another one this week.\u201d<\/p>\n

Several GOP lawmakers, including Tom Emmer<\/a> and Ted Cruz<\/a>, have introduced bills opposing the use of CBDCs. Governor DeSantis is urging other politicians and states to follow Florida\u2019s example and take a stand against CBDCs. However, not everyone is on board with this decision. Nobel laureate and Keynesian economist Paul Krugman criticized<\/a> DeSantis, stating that it\u2019s \u201chighly unlikely that a state government would have the right to prohibit\u201d the use of a CBDC.<\/p>\n

While some Republican state leaders are opposed to CBDCs, others are more welcoming. Surprisingly, Democratic senator Elizabeth Warren<\/a> of Massachusetts, who is known for her strong stance against corruption in the banking industry, is in favor of CBDCs. In a recent interview with NBC\u2019s Chuck Todd, Warren expressed her support for CBDCs, stating<\/a> that \u201cit\u2019s time for us to move in that direction.\u201d<\/p>\n

Governor DeSantis, on the other hand, remains resolute in his belief that CBDCs pose a threat to Florida\u2019s financial stability and is determined to lead the charge against them. \u201cI\u2019m just glad we are thinking ahead here in the state of Florida because once this genie is out of the bottle, I think it will be very hard to put back in,\u201d DeSantis said<\/a> in Fort Myers. There is a widespread belief that DeSantis has his sights set on the White House and will be running for president of the United States in the 2024 election.<\/p>\n

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anti-CBDC legislation<\/a>, CBDC<\/a>, central bank digital currencies<\/a>, central bank digital currency<\/a>, Democratic<\/a>, Digital Currency<\/a>, Elizabeth Warren<\/a>, financial stability<\/a>, Florida<\/a>, Governor DeSantis<\/a>, Republican<\/a>, Ted Cruz<\/a>, tom emmer<\/a>, White house<\/a><\/div>\n<\/div>\n

What are your thoughts on Florida\u2019s decision to ban the use of central bank digital currencies (CBDCs)? Let us know what you think 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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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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