Florida Gov. Ron DeSantis’s team posted a new video highlighting the governor’s recent ban on Central Bank Digital Currency in the state of Florida.
The video, released by DeSantis War Room on Saturday, warns that President Joe Biden’s Federal Reserve is “exploring” the creation of a Central Bank Digital Currency, which could limit the cash payments people could make, such as buying a firearm or donating to religious charities. DeSantis’s ban on CBDC’s is aimed at getting ahead of any possible limitations.
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“Because in Florida … Biden Bucks Stop Here,” the video proclaims.
Governor DeSantis just made Florida the first in the nation to BAN a Central Bank Digital Currency.
Wondering why? Watch this. pic.twitter.com/EyJm1vKlMF
— DeSantis War Room 🐊 (@DeSantisWarRoom) May 13, 2023
The ban, signed by DeSantis on Friday, makes Florida the first state in the United States to ban CBDCs. DeSantis had previously announced legislation in March calling for Florida residents to be protected from CBDCs, according to press releases from the governor’s office.
“The government and large credit card companies should not have the power to shut off access to your hard-earned money because they disagree with your politics,” said DeSantis. “Biden’s Central Bank Digital Currency aims to increase government control over people’s finances, and we will not allow it. In Florida, we value personal freedom and won’t allow self-interested elites to chip away at our liberty.”
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The two Senate bills DeSantis signed were Senate Bill 7054 and Senate Bill 214, with the former prohibiting the use of a federally adopted CBDC by excluding it from the definition of money within Florida’s Uniform Commercial Code. Senate Bill 214, meanwhile, prohibits credit card companies from using Merchant Category Codes for firearms and also enacts a fine for violations of Florida’s consumer protections against gun owner registries.
Biden issued an executive order in 2022 to explore the creation of a CBDC in the U.S. Unlike bitcoin or similar cryptocurrencies, a CBDC is controlled and issued by the government to consumers, allowing the government access to consumer activity.
