Republican Governor Ron DeSantis has taken a strong stance against implementing a “digital dollar” as a replacement for traditional currency in Florida. This week, DeSantis signed a law that explicitly prohibits the introduction of a central bank digital currency (CBDC) in the state.
The move comes in response to Democratic President Joe Biden’s insistence that the Federal Reserve adopt “digital cash” as a means of currency. However, concerns have been raised that a government-controlled CBDC could allow for invasive monitoring and control of people’s personal spending by federal authorities.
The governor’s office revealed that the newly enacted law effectively blocks the federal government from using CBDC by excluding it from the definition of money within Florida’s Uniform Commercial Code. Additionally, the legislation prohibits the adoption of foreign-issued CBDC, citing the need to safeguard consumers against globalist initiatives aimed at establishing a universal digital currency.
“The government and the big credit card companies shouldn’t have the power to shut down access to your hard-earned money because they don’t agree with your policy,” DeSantis said in a statement.
“Biden’s Central Bank digital currency is aimed at increasing government control over people’s finances, and we will not allow it,” he said. “In Florida, we value personal freedom and we will not allow vested interests to chip away at our freedom.”
DeSantis called on the Florida-led 20-state coalition against the environmental, social and governance (ESG) “awakening” to follow suit by banning CBDCs in their states.
Florida Chief Financial Officer Jimmy Patronis warned against Biden’s attempt to implement a federally controlled Central Bank digital currency.
The radical left will ensure that a digital dollar is “weaponized” against opponents, Patronis argued.
“It’s just another way for Floridians to have their vital financial information monitored and controlled by the federal government,” he added.
In another major move, Governor DeSantis also signed a separate bill that targets credit card companies and their use of specific merchant category codes for firearms. This legislation not only prohibits the use of these codes, but also imposes fines on companies that violate Florida’s consumer protections, which are intended to prevent the creation of gun owner registries.
Governor DeSantis’ actions highlight his commitment to safeguarding Florida’s financial and consumer interests, as well as his efforts to maintain individual privacy and preserve the state’s autonomy in matters related to the regulation of currency and firearms.
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