Ron DeSantis Vows to End Biden's "War on Bitcoin," Toss CBDC Into ''Trash Can'' If Elected President

Ron DeSantis Vows to End Biden’s “War on Bitcoin,” Toss CBDC Into ”Trash Can” If Elected President

Updated: 01 August 2023

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Ron DeSantis, the Republican Candidate for 2024’s presidential election, said he will toss a Central Bank Digital Currency into the trash can and end what he called Joe Biden’s war on Bitcoin if he becomes president.

“We are going to let Americans invest in things like Bitcoin and cryptocurrency,” DeSantis said, while speaking at a campaign event in New Hampshire. “Biden’s war on Bitcoin currency will come to an end when I become president.”

DeSantis went on to compare the US government’s plans for a CBDC to those in China, where the central bank is currently conducting trials of a digital yuan. He claimed that “unaccountable elites” in the government could not be trusted to handle the potential rollout of a digital dollar and that the Federal Reserve wants to eliminate cryptocurrencies.

“As president, on day one, CBDC goes into the trash can — we’re not going to allow it,” he said.

“They want to go to a cashless society, they want to eliminate digital currency, and want all the transactions to go through the Central Bank Digital Currency,” he said. “We will also reject the Fed’s proposal to impose Central Bank Digital Currencies on the American people.”

DeSantis Sign Bill Prohibiting CBDC

The nation’s “unaccountable elites” cannot be trusted to run the economy, he said, adding that the role of the Fed will be limited. It has only one job, he said, keeping prices stable.

In March, he had signed a bill prohibiting the use of CBDC in Florida.