Ron DeSantis, a staunch opponent of central bank digital currency (CBDC), decided to withdraw from the White House race. The politician expressed his inability to continue a campaign without a clear path to victory.

In an emotional 4-minute statement shared on X, DeSantis confirmed his long-awaited endorsement of former President Donald Trump. “I won’t stop now. It is clear that most Republican voters want to give Donald Trump another chance,” he said.

In the recent Iowa primary of the Republican Party, held on January 15, DeSantis came in second, trailing Trump by a margin of 21%. The Florida Governor, who officially launched his candidacy in July 2023, acknowledged the lack of support and visibility needed to stay in the race.

During his campaign, DeSantis pledged to ban an eventual version of the digital dollar if he reached the presidency. “If I am president, on the first day we will cancel the central bank’s digital currency. Done. Dead. It won’t happen in this country,” he said at an event in Iowa.

This position is also backed by Donald Trump, who, during a recent speech in Portsmouth, New Hampshire, promised to “never allow” the creation of a CBDC by the Federal Reserve.

The CBDC, a form of digital national currency backed by a nation’s central bank, has sparked debate around the world. While some see potential improvements in efficiency and financial inclusion, critics warn of possible breaches of privacy and excessive government control.

K. Tovar

Source: Cointelegraph

(Reference image source: X, @SaharaReporters)

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