Florida Gov. Ron DeSantis Signs Bill to Ban Digital Dollar

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The governor of Florida has signed a law banning the use of the US Federal Reserve's digital currency in the state.

A previous ban on the use of digitalThe dollar was supported by the State House of Representatives and Senate. The new law against state digital currency will come into force on July 1, 2023. Governor Ron DeSantis explained his position by saying that with the help of the digital dollar, the Fed will be able to control citizens' spending. DeSantis is convinced that CBDC poses a threat to financial stability:

“We're just thinking about the future of Florida.Authorities can freeze your money if they think you're filling up your gas tank too often. They will call it the fight against global warming. It may happen that you buy a firearm and they don't want you to buy another one. Once this genie is out of the bottle, it will be very difficult to put it back.”

Florida Governor Urges Other Statesfollow his example. In March, Texas Senator Ted Cruz also introduced a bill against the use of CBDC out of concern that the state-owned cryptocurrency could hinder the adoption of Bitcoin.

However, not all American politicians sharethis point of view. Democratic Senator Elizabeth Warren, known for her opposition to cryptocurrencies, supports the launch of a digital dollar. Last year she called on the government to speed up its development.