Ron de Santis would ban CBDCs if he becomes president

The candidate for the US presidency assured that from day one of his term he plans to prohibit the use of digital currencies issued by central banks

Ron DeSantis, candidate for the presidency of the United States, reiterated his criticism of digital currencies issued by central banks (CBDCs), specifically opposing the possibility of implementing a digital dollar in the country.

During his speech at the Leadership Summit, DeSantis assured that, if elected president, he would ban CBDCs in the United States from his first day in office. During the event in Iowa, which featured six other Republican candidates, he said: “If I’m president, on day one, we’re going to ban central bank digital currency.

DeSantis has been an outspoken opponent of the implementation of a digital dollar in the United States. In May, he passed a Florida law that prohibits the use of federal CBDCs as a form of money, in addition to prohibiting the use of foreign CBDCs. His main argument is that these digital currencies could lead to a “massive transfer of power from consumers to a central authority.”

A digital currency issued by a central bank does not differ much from a traditional currency issued by it. In essence, it is a digital version of a national currency, which provides the advantages of digital assets.

However, the topic of CBDCs has generated controversy in the crypto community for a long time. Opponents argue that they threaten the privacy of citizens and could allow full government control, while others see them as a tool to encourage cryptocurrency adoption and a global use case for blockchain technology.

K. Tovar

Source: Cointelegraph

(Reference image source: Kanchanara, Unsplash)

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