Florida Gov. DeSantis speaks out against digital currency

DeSantis proposes legislation to prohibit CBDCs

FILE - Florida Gov. Ron DeSantis speaks as he announces a proposal for Digital Bill of Rights, Feb. 15, 2023, at Palm Beach Atlantic University in West Palm Beach, Fla. DeSantis has emerged as a political star early in the 2024 presidential election season even as he ignores many conventions of modern politics. (AP Photo/Wilfredo Lee, File) (Wilfredo Lee, Copyright 2023 The Associated Press. All rights reserved)

PANAMA CITY, Fla. – Florida Gov. Ron DeSantis called on the Legislature Monday to forbid the use of digital currency in the state.

“This will ensure that Florida continues to be a state that supports innovation in the financial sector through the market, while protecting against government surveillance over your personal finances,” DeSantis said at a news conference in Panama City.

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The governor said legislation to amend the use of Uniform Commercial Code, a set of laws governing commercial transactions in the U.S., has been introduced in other states, but not in Florida.

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DeSantis also proposed legislation prohibiting any foreign-sanctioned central bank digital currency and implored like-minded states to adopt similar bills and laws.

John Rothell, the senior governmental affairs director for the League of Southeastern Credit Unions, said he’s glad this issue is being brought to the forefront.

“Consumers should have a choice on where they put their hard-earned money. They should have a choice where they go to get a loan to get their first mortgage, their car, their first car loan,” said Rothell, whose organization represents millions of members throughout Florida, Georgia and Alabama. “Unfortunately, as proposed, we have concerns with a central bank currency that would crush the role of community financial base financial institutions, like credit unions, and our ability to serve our members and our communities as they do in this area.”


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