Business & Economy Miami News

DeSantis bans central digital currency out of the Sunshine State

DeSantis signed two bills that bar central digital currency out of the state 

On Friday, May 12, 2023, Florida Governor Ron DeSantis signed another bill that keeps a centralized federal digital currency system and financial surveillance out of the state.

The president of Fort Myers Technical College, Kathleen Passidomo, and Agriculture Commissioner Wilton Simpson also joined him at the Southwest Florida Public Service Academy on Friday.

Continue reading this news for further details on the digital currency bill:

Government shouldn’t have the power to access money

Ron DeSantis signed two senate bills SB 214 and 7054. According to the governor, this centralized digital currency allows large credit card companies and the government the power to access the hard-earned money of those who disagree with their politics.

In the Friday press conference, he also said that central bank digital currency (CBDC) is Biden’s way to increase his government’s control on the public’s finances, and his governance won’t allow it to happen in Florida.

“We value personal freedom and won’t allow self-interested elites to chip away at our liberty in Florida,” Gov. Ron DeSantis told the media.

He announced legislation back in March to ban CBDC’s use in Florida’s Uniform Commercial Code. The legislation would also keep any global bank’s currency out of Florida.

Currency, bitcoin, and screen with stock monitoring

CBDC is a surveillance and control attempt

While announcing the new bill, the governor also said that central bank digital currency is an attempt by Joe Biden’s administration to control and surveil. He told the media that these digital currencies are the latest and easiest route for the Davos elites to infuse woke ideologies such as ESG (environmental, social, and governance) into the financial system of America.

On the other hand, the Federal Reserve said that they’re not imposing digital currencies. Rather, they’re initiating a FedNow payment system that expedites payments for businesses and individuals.

The FedNow payment service isn’t a form of currency or a way to eliminate other forms of payment, such as cash. The Fed tweeted that FedNow is an instant service that will be launched in the coming July by Federal Reserve.

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