17 July 2023
United States presidential candidate and Florida Governor Ron DeSantis continues to express his opposition to central bank digital currencies (CBDCs), firmly opposing the implementation of a digital dollar in the country.
During the Family Leadership Summit on July 14, DeSantis vowed to ban CBDCs in the United States if elected as president. He emphasized that on his first day in office, he would put an end to the concept, stating, “Not happening in this country.”
DeSantis has consistently been a critic of a digital dollar. In May, he enacted a bill in Florida that prohibits the use of federal CBDCs as a form of currency. He also banned the use of foreign CBDCs, arguing that it would result in an extensive transfer of power from consumers to centralized authorities.
Central bank digital currencies have been a subject of debate within the crypto community. Critics argue that they pose threats to individual privacy and may lead to excessive government control, while others see them as a means to drive adoption and explore the potential of blockchain technology on a global scale.
The CBDC landscape has experienced substantial growth, with more than 100 countries researching the technology and around 39 nations actively engaged in CBDC pilots, proof-of-concept projects, or related initiatives, according to Cointelegraph’s CBDC database.
Although the U.S. Federal Reserve currently has no immediate plans to introduce a digital dollar, the discussion surrounding cryptocurrencies and related topics among candidates during early campaigns suggests that the situation could change after the next year’s election.