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Governor Ron DeSantis of the U.S. state of Florida has proposed legislation to prohibit the use of central bank digital currency (CBDC) as money in his state. \u201cThe Biden administration\u2019s efforts to inject a centralized bank digital currency is about surveillance and control,\u201d the governor warned.<\/strong>\n<\/p>\n \n Governor DeSantis warned:\n<\/p>\n The Biden administration\u2019s efforts to inject a centralized bank digital currency is about surveillance and control.<\/p>\n<\/blockquote>\n \n The legislative proposal prohibits the use of a federally adopted central bank digital currency as money within Florida\u2019s Uniform Commercial Code (UCC), the announcement details, adding that it also prohibits any CBDCs issued by a foreign reserve or foreign-sanctioned central bank.<\/p>\n Foundation for Government Accountability CEO Tarren Bragdon noted that this proposal pushes back on \u201can overreaching federal government,\u201d elaborating:\n<\/p>\n Our money says In God We Trust. The central bank digital currency changes that to In Government We Trust. That\u2019s wrong and I am grateful for the governor\u2019s continued pushback of an out-of-control DC bureaucracy.<\/p>\n<\/blockquote>\n \n Like Noem, Governor DeSantis is calling for other states to fight back against the UCC guideline update that paves the way for a CBDC. In his Monday announcement, DeSantis called on \u201clikeminded states to join Florida in adopting similar prohibitions within their respective Commercial Codes to fight back against this concept nationwide.\u201d<\/p>\n Noting that \u201cA central bank digital currency is the cornerstone of a federal government that could track each and every transaction that happens in the world,\u201d State Chief Financial Officer Jimmy Patronis emphasized:\n<\/p>\n There would be no privacy, and if there is no privacy, there are no rights. In the same way Florida is fighting back against the IRS, we need to fight back against this program. It\u2019s how we protect freedom, liberty, and prosperity.<\/p>\n<\/blockquote>\n \nGovernor Ron DeSantis Proposes Law to Prevent Financial \u2018Weaponization\u2019 Through a CBDC<\/h2>\n
\nFlorida Governor Ron DeSantis announced \u201ccomprehensive legislation\u201d Monday to protect consumers and businesses in his state \u201cfrom the Biden administration\u2019s weaponization of the financial sector through a central bank digital currency (CBDC).\u201d<\/p>\n\n
\nHe added that the proposed legislation will protect consumers and businesses in his state \u201cfrom the reckless adoption of a \u2018centralized digital dollar\u2019 which will stifle innovation and promote government-sanctioned surveillance.\u201d The governor also noted that CBDCs are not the same as decentralized cryptocurrencies, such as bitcoin (BTC<\/a>).<\/p>\n\n
\nEarlier this month, South Dakota Governor Kristi Noem vetoed<\/a> a bill that was disguised as an update to the UCC guidelines but paves the way for a CBDC while disallowing the use of cryptocurrencies, such as bitcoin, as a form of currency. She urged 20 other states, including Florida, that are about to consider a similar bill to \u201cblock this legislation from passing.\u201d<\/p>\n\n
\nSeveral CBDC-related bills have been introduced in the U.S. Congress. Last month, U.S. Rep. Tom Emmer<\/a> (R-MN) introduced the Central Bank Digital Currency (CBDC) Anti-Surveillance State Act \u201cto halt efforts of unelected bureaucrats\u201d from \u201cstripping Americans of their right to financial privacy.\u201d Last year, U.S. Senator Ted Cruz<\/a> (R-TX) introduced legislation \u201cto prohibit the Federal Reserve from issuing a central bank digital currency directly to individuals.\u201d<\/p>\n