Florida Governor Ron DeSantis recently proposed a bill aimed at prohibiting the introduction of digital currency in the state.
DeSantis expressed his concern that the implementation of a digital dollar could potentially lead to government abuse and increased surveillance of financial transactions, referring to the proposed currency as “Big Brother’s Digital Dollar.”
This legislation specifically prohibits the use of the Federal Reserve System’s (FRS) digital currency, as well as any other digital currencies created by foreign governments. DeSantis called upon other states to consider similar legislation to protect their citizens’ confidential data.
During his speech, DeSantis mentioned a previous executive order by US President Joe Biden, which mandated government agencies to develop a roadmap for implementing a digital dollar.
DeSantis expressed concern that the Central Bank Digital Currency (CBDC) could be used to “enforce plans” by the state, such as limiting the purchase of gasoline or even banning the purchase of firearms.
DeSantis is not the only public figure to voice concerns about the digital dollar. US Congressman Tom Emmer also recently spoke out against the potential surveillance of users that could occur with a government-backed stablecoin. It remains to be seen whether other states will follow Florida’s lead in introducing similar legislation.
It is important to note that DeSantis did not disclose his intentions to run for the Republican nomination for President of the United States, though he is currently considered a top contender by Morning Consult.
Regardless of his political ambitions, DeSantis remains focused on protecting the privacy and financial security of Floridians, and is calling upon other states to do the same.