Florida Governor Ron DeSantis has expressed his strong disapproval of a central bank digital currency (CBDC). Proposed legislation from the official would ban any CBDC issued in the U.S., as well as those issued by foreign reserve or foreign-sanctioned central banks. DeSantis and the recently Presidential nominated Robert F. Kennedy Jr. argue that a federally controlled CBDC is about surveillance and control, diminishing the role of community banks and credit unions in the financial system, and threatens personal economic freedom and security.

This proposal comes as several countries are pushing for national-level CBDCs, including China and India. China is also in the process of introducing digital yuan to corporate clients with the help of BNP Paribas, while India's retail CBDC pilot project is estimated to grow to a testing phase encompassing a 500,000 person pool.

DeSantis and Kennedy both vocalize the importance of cryptocurrency and its ability to be autonomous from government. Kennedy argues that criticisms of its environmental impact are overstated and that it is being used as a pretext to suppress anything threatening to elite power structures. According to his statement, Kennedy went on to point out that Bitcoin mining uses about the same amount of energy as video games and should not be facing a similar ban.

In addition to tracking transactions, CBDCs are a risk for citizens' free economic decisions as the government can freeze a person's assets or limit their spending to approved vendors if they do not comply with malleable situations . This could be applicable to vaccine mandates, or other circumstances deemed necessary by the regulating authority. Without a centralized CBDC, cryptocurrency allows for citizens to make their own economic choices that best fit their current situation.

Access to cryptocurrency is becoming a more important tool for the United States, as it fights the rising surge of global CBDCs. As it stands, CBDCs threaten both the security of personal finances and the freedoms to make independent economic decisions. This is why Florida is pushing back so aggressively against any possible acceptance, in order to protect its citizens and business owners.



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