On Monday, Florida Governor Ron DeSantis announced a new legislative proposal to “protect Floridians from the Biden administration’s weaponization of the financial sector through a Central Bank Digital Currency (CBDC).” The announcement dealt heavily with the issue of privacy, echoing other Republicans who have recently claimed that a digital dollar will strip Americans of their right to financial privacy.
“The Biden administration’s efforts to inject a Centralized Bank Digital Currency is about surveillance and control,” Mr DeSantis said, claiming that a federally controlled digital dollar is yet another attempt by liberal elites to push “woke ideology” into the financial sector. The potential Presidential candidate worries that, unlike decentralized digital currencies, a CBDC will threaten individual privacy and economic freedom, as well as diminish the role of community banks and credit unions in the financial system.
Specifically, the legislative proposal calls for:
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