Anti-CBDC Law Signed by Florida Governor, Other U.S. States to Follow

The governor of Florida, Ron DeSantis, recently signed the anti-CBDC law that prohibited the use of central bank digital currencies (CBDCs) in the state. Reports say a few other U.S. states may follow in DeSantis’ footsteps.

On May 13, the governor of Florida, Ron DeSantis, reportedly signed a Senate bill that prohibits the use of federally-adopted central bank digital currencies (CBDCs) in the state. DeSantis claimed that Florida is the first state in the U.S. that protected its residents from government intelligence over their personal finances.

According to Morales, CBDCs are digital currencies distributed by central banks and funded by government guarantees. Cryptocurrencies, on the other hand, like Bitcoin and Ethereum, are decentralized digital assets. This means that they are not managed by any authority and perform on a peer-to-peer network.

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Texas

According to Qureshi, the lawmakers of the state of Texas have already drafted a bill named “Expressing Opposition to the Creation of a Central Bank Digital Currency”. Reportedly, this bill contends that a digital dollar may lead to rising levels of government intelligence and control over private transactions and cash holdings.

North Dakota

In the state of North Dakota, a bill named “The Adoption of a Central Bank Digital Currency in the United States” was also proposed. This bill reportedly intends to advise that implementing CBDCs would give the Federal Reserve unprecedented control over the North Dakota residents’ lives, sovereignty, freedom, and choices.

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