Florida has recently become the first state in the US to ban the use and issuance of Central Bank Digital Currencies (CBDCs). This news comes as a shocker to the US government, with Florida Governor, Ron DeSantis, making an official announcement of the ban. The legislation has been proposed in March this year, aiming to protect Floridians from the drawbacks of a government-regulated digital currency. The bill relates to making it illegal to treat any CBDC as a legal tender, and it also has safeguards in place to protect the state from any external push to adopt the central currency.

In addition, Governor DeSantis has urged the governments of other states in the United States to join forces and pass similar legislation on the matter. DeSantis believes that a digital currency introduced by the government is about “surveillance and control” and is harmful to the privacy of Floridian residents. He has also issued a press statement in which he proclaimed his intention to outlaw the use of CBDCs in the state of Florida.

The implications of this crypto news have caused the price of Bitcoin to drop 0.08% in the past hour, with Bitcoin currently exchanging hands at around $26,321.57. In conclusion, this new legislation will likely be met with both praise and criticism from the crypto sector as well as other states in the US, opening a new avenue of potential legal disputes.



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