The American CBDC Will Spark A Massive Transfer Of Power From Citizens To Government, Says Ron DeSantis

The Florida Governor, Ron DeSantis, affirms that an American Central Bank digital currency (CBDC) will empower the government at the expense of personal freedom. Further, according to his speech at Fort Myers Technical College, DeSantis warned that the US CBDC would give the government much control over how people spend money.

American CBDC Will Spark Massive Transfer of Power From Citizens to Government: Florida Governor Ron DeSantis https://t.co/6QHEC7EFbM

— The Daily Hodl (@TheDailyHodl) May 18, 2023

However, CBDC would enable the federal government to view the people’s transactions and block purchases in real-time, according to the Republican governor. He further noted:

I think anyone with their eyes open could see the dangers that this type of an arrangement would mean for Americans who want to exercise their financial independence, who would like to conduct business without having the government know every transaction they’re making in real-time.

Nonetheless, DeSantis remarks that CBDCs go against the values the free society upholds. Notably, it would catalyze a shift of power from a wide range of people. He has further remarked that the government provide a benevolent rationale for their actions, yet, it is nothing more than a wolf in sheep’s clothing.

However, he noted that CBDC is a wolf coming as a wolf. According to the Republican Governor, the central bank’s digital currency will be a massive power transfer from individual consumers to a central authority. And that’s just fundamentally antithetical to a free society, he added.

Ron DeSantis Signs A New Bill

Recently, Florida’s Governor signed a new bill banning central bank digital currencies in the state. The bill, dubbed SB-7054, prohibits using a federally adopted central bank digital currency by excluding it from the definition of money within Florida’s Uniform Commercial Code.

Florida Bans a Central Bank Digital Currency https://t.co/S8UfWrLZyc

— Ron DeSantis (@GovRonDeSantis) May 12, 2023

Notably, it prohibits using CBDCs issued by other governments and calls on other states to use their commercial codes to institute similar prohibitions. DeSantis notably claimed that the Biden administration is studying CBDCs to eliminate other types of digital assets, such as cryptocurrencies. He suggested that the administration wants to “crowd out and eliminate other types of digital assets, like cryptocurrency.”

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