During the Family Leadership Summit, DeSantis claimed, "If I am the president, on day one, we will nix central bank digital currency."
Ron DeSantis, Florida's Governor and contender for the United States presidency, has made it clear that he is against the central bank digital currencies (CBDCs), specifically a digital version of the US dollar.
DeSantis made his perspective clear during his address at the Family Leadership Summit on July 14th, where he pledged that if elected as president, the concept of CBDCs will find no ground in the US.
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During the conference, where DeSantis was one of seven Republican Party candidates, the man noted:
If I am the president, on day one, we will nix central bank digital currency. Done. Dead. Not happening in this country.
This is not the first time DeSantis opposed the idea of a digital dollar in the United States. In May, he signed a legislative bill in Florida that effectively bars the use of federal CBDCs as legal tender. The governor also expressed resistance towards foreign CBDCs, suggesting that their adoption could lead to a "massive transfer of power from consumers to a central authority."
Central bank digital currencies, although digital, share similarities with traditional fiat currency issued by central banks. They present a digitized version of fiat currency, offering the benefits of digital assets while maintaining the value of money.
However, their creation has stirred up a hornet's nest in the cryptocurrency community, sparking debates over privacy implications and the potential for increased government control. On the other hand, some see CBDCs as a vehicle for broader digital currency adoption and a prime example of blockchain technology's global applicability.
It is worth noting that the US Federal Reserve has yet to express intentions to issue a digital dollar. As the elections draw nearer, crypto-related discussions are becoming a prominent part of campaign conversations. Democratic Party presidential candidate Robert F. Kennedy Jr., for example, has advocated for Bitcoin since May, even revealing Bitcoin (BTC) investments worth up to $250,000 recently.
If DeSantis is elected as president, the future of CBDCs in the United States might be hanging by a thread. It's a political promise that stands to have substantial impacts on the digital currency landscape of the nation.
