Florida governor introduces bill to ban digital dollar

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Governor of an American stateFlorida Ron DeSantis has proposed a bill that would prohibit the implementation of a digital dollar in the state as a measure to protect the sensitive data of local residents.

Ron DeSantis describedhis project with the phrase “Big Brother Digital Dollar.” This bill would prohibit the introduction of the US Federal Reserve's (FRS) digital currency into the state, as well as any other digital currencies created by a foreign government. DeSantis called this type of money a tool that could lead to government abuses and increase oversight of money flows.

"Central Bank Digital Currencydesigned to monitor Americans and control their funds. You're opening a big can of worms by handing the Fed enormous power that it will abuse,” DeSantis said.

During his speech, DeSantis mentionedon an executive order issued by US President Joe Biden last year requiring government agencies to agree on a digital dollar roadmap. According to DeSantis, a CBDC could be used to “implement government plans,” such as limiting the purchase of gasoline or banning the purchase of firearms. Therefore, the Florida governor called on other states to pass similar legislation prohibiting the implementation of the digital dollar.

DeSantis has not said whether he willrun for the Republican nomination for President of the United States. However, he is considered one of the leading candidates, according to Morning Consult. DeSantis is not the only one speaking out against the digital dollar. Recently, US Congressman Tom Emmer also spoke out against the launch of a state-owned stablecoin, fearing surveillance of users.