While the 2024 election campaigns are underway, Governor DeSantis issues remarks that echo those of Robert F. Kennedy Jr, a Democratic presidential candidate, who (last week) supported Bitcoin as censure and an example of democracy to authoritarians.
Florida’s Governor Ron DeSantis heavily criticized the Biden Administration’s Central Bank Digital Currencies (CBDCs) plan (on Wednesday). That comes after the latest legislation prohibiting CBDCs use in Florida.
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Besides outlawing the CBDC issuance and usage, the state will soon protect citizens of Florida against the upcoming Federal Reserve digital currency. DeSantis believes the government might use virtual currency for surveillance and ensure control over the spending habits of the people of the United States.
On 12 May 2023, Florida passed a bill to make the treatment of CBDC as legal tender under the FUCC (Florida Uniform Commercial Code) unlawful. That made Florida the first U.S. state to introduce legislation against CBDCs implementation on its people.
Why are CBDCs bad for U.S. citizens?
The Twitter talk that featured Tesla executive Elon Musk saw DeSantis highlighting how the Biden administration wants to monitor people’s financial habits through CBDCs surveillance. The Governor revealed that Florida is the first state to criticize CBDCs. He added that Congress wouldn’t certify CBDCs usage.
Furthermore, the cryptocurrency community has been opposing CBDCs implementation. Remember, central bank-issued virtual currencies would undermine trust within the digital asset industry.
DeSantis pledges to support BTC if elected as President
Ron DeSantis believes the Biden government will use any move to kill the largest crypto (if re-elected). Meanwhile, the presidential candidate stated that he would protect Bitcoin when elected. Meanwhile, the remarks come as the crypto world deals with hostility from the United States watchdogs.
SEC chart Gary Gensler said that nearly all cryptos fall under the ‘securities’ category. Nonetheless, Bitcoin hasn’t been in that debate as most leading authorities recognize the bellwether cryptocurrency as a commodity.