The Governor of Florida, Ron De Santis has proposed a new legislative bill that would ban the use of a national central bank digital currency (CBDC) as legal tender in the state. The governor argued that the adoption of a “centralized digital dollar” would limit innovation, take away citizens privacy and freedoms and promote government sanctioned surveillance.
De Santis also raised concerns that it would diminish the role of community banks and credit unions in the state. The proposed law would also prevent the use of a digital dollar (CBDC) issued by any overseas central bank. The governor’s statement urged other states to follow suit. President Joe Biden had ordered a study of the potential uses and risks of a CBDC by the federal government last year.
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