DeSantis continues to pave its way to the US presidency, waving the flag of digital currencies.
Ron DeSantis, the current Governor of Florida and a potential presidential candidate, has placed "economic independence" and digital currencies at the core of his 2024 campaign. He asserts his intention to end the supposed "war on Bitcoin" being waged by President Joe Biden if he wins the presidency.
Addressing a campaign gathering in New Hampshire on July 31st, DeSantis reconfirmed his plans to prohibit central bank digital currencies (CBDCs) should he secure the Republican nomination and subsequently the presidency.
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It remains ambiguous which specific policies DeSantis was alluding to. However, he insinuated that the policies were being introduced by the Federal Reserve.
President Biden put forth an executive order in March 2022, laying down plans for a regulatory framework for digital currencies. During his term, the Securities and Exchange Commission has launched multiple lawsuits against cryptocurrency firms, and the Department of Justice has levied criminal charges against former FTX CEO Sam Bankman-Fried and former Celsius CEO Alex Mashinsky.
Taking his argument further, DeSantis compared the US government's plans for CBDCs to the ongoing trials of a digital yuan in China. He voiced concern that "unaccountable elites" within the government might not be able to manage the potential implementation of a digital dollar.
<The Fed wants> to go to a cashless society. They want to eliminate cryptocurrency. As president, on day one, CBDC goes into the trash can — we’re not going to allow it.
After the announcement in May, DeSantis was viewed as the second most feasible Republican candidate, based on various polls. However, current polls show DeSantis lagging significantly behind former president Donald Trump, who has faced impeachment twice and a federal indictment.
The state primary elections will commence in January, culminating in a final vote at the Republican National Convention in July 2024 to select the party's candidate.
Candidates from the Democratic and Republican parties seeking a spot in the 2024 presidential race have expressed views on cryptocurrencies such as Bitcoin and CBDCs. Some candidates even declared that they are accepting Bitcoin donations.
As the race for the 2024 presidency gains momentum, digital currencies are increasingly becoming a focal point of discussion. The future of Bitcoin and other cryptocurrencies in the US could very well hinge on the outcome of this election.
