DeSantis Bans Central Bank Digital Currency in Florida

DeSantis Bans Central Bank Digital Currency in Florida

Chris Nelson
Chris Nelson
May 13, 2023

Governor Ron DeSantis signed first-in-the-nation laws today against the U.S. Government surveilling the personal finances of Floridians, including a ban on the use of a Central Bank digital currency.

"We are excited to see the American people fight back for a change," said DeSantis at a press conference in Fort Myers this morning with the phrase "Big Brother's Digital Dollar" emblazoned on the podium and an American flag behind him. "We are on offense in the State of Florida. We are leading. We are getting ahead of issues. And we are making sure that your freedoms are protected against threats that may not necessarily be here right now but are developing. That I think is the hallmark of good leadership."

Two bills DeSantis signed, SB 7054 and SB 214, are "to protect the personal finances of Floridians from government overreach and woke corporate monitoring," according to the Governor's press office.

"SB 7054 prohibits the use of a federally adopted central bank digital currency (CBDC) by excluding it from the definition of money within Florida’s Uniform Commercial Code," according to the Governor's office. "Additionally, the bill prohibits foreign-issued CBDC to protect consumers against globalist efforts to adopt a worldwide digital currency."

DeSantis speaks in Fort Myers

“The government and large credit card companies should not have the power to shut off access to your hard-earned money because they disagree with your politics,” said DeSantis. “Biden’s Central Bank Digital Currency aims to increase government control over people’s finances, and we will not allow it. In Florida, we value personal freedom and won’t allow self-interested elites to chip away at our liberty.”

DeSantis also signed a law that will prohibit credit card companies from using firearm-specific Merchant Category Codes and institutes a fine of up to $10,000 for violations of Florida’s consumer protections against gun owner registries.

“We are all blessed to live in the Free State of Florida where our Second Amendment rights are valued and protected,” said Commissioner of Agriculture Wilton Simpson. “Today, Florida is taking another bold step to protect Second Amendment rights by drawing a line in the sand that tells progressive financial institutions they cannot covertly track, monitor, and report data on Floridians’ firearm purchases – or else."

More on the Central Bank Digital Currency from the Governor's office:

"In 2022, President Joe Biden issued an executive order to explore the creation of a US CBDC. Unlike a decentralized central currency such as crypto or bitcoin, a central bank digital currency is directly controlled and issued by the government to consumers, providing the government direct access to consumer activity. Additionally, a federally sanctioned CBDC as proposed by the Biden administration would diminish the role of community banks and credit unions in our financial system as CBDC currency would be a direct liability of the federal government, rather than of a chartered financial institution, shrinking market lending power.

SB 7054 expressly prohibits the use of a federally adopted CBDC by excluding it from the definition of money within Florida’s Uniform Commercial Code, the state’s governing laws for commercial transactions. Through this legislation, Florida will remain the standard-bearer among states in supporting a free market approach to innovation in the financial technology space and for protecting against government surveillance of personal finances through a centralized monetary policy."

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Chris Nelson

Chris Nelson

Chris Nelson is a videographer and investigative reporter based in Fort Lauderdale. Chris covers breaking news, and local and state politics, and focuses on Florida Gov. Ron DeSantis. His work has been cited on Fox News and Epoch Times.

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