TALLAHASSEE, Fla. — Today, Governor Ron DeSantis announced comprehensive legislation to protect Floridians from the Biden administration’s weaponization of the financial sector through a Central Bank Digital Currency (CBDC).
The legislative proposal protects consumers and businesses from a federally controlled CBDC by:
- Expressly prohibiting the use of a federally adopted Central Bank Digital Currency as money within Florida’s Uniform Commercial Code (UCC).
- Instituting protections against a central global currency by prohibiting any CBDC issued by a foreign reserve or foreign sanctioned central bank.
- Calling on likeminded states to join Florida in adopting similar prohibitions within their respective Commercial Codes to fight back against this concept nationwide.
“The Biden administration’s efforts to inject a Centralized Bank Digital Currency is about surveillance and control,” said Governor Ron DeSantis. “Today’s announcement will protect Florida consumers and businesses from the reckless adoption of a ‘centralized digital dollar’ which will stifle innovation and promote government-sanctioned surveillance. Florida will not side with economic central planners; we will not adopt policies that threaten personal economic freedom and security.”
“Governor DeSantis is ahead of the curve when it comes to protecting individual rights. A Central Bank Digital Currency is the cornerstone of a federal government that could track each and every transaction that happens in the world,” said State Chief Financial Officer Jimmy Patronis. “There would be no privacy, and if there is no privacy, there are no rights. In the same way Florida is fighting back against the IRS, we need to fight back against this program. It’s how we protect freedom, liberty, and prosperity.”
“This proposal continues the strong track record of Governor DeSantis pushing back on an overreaching federal government,” said Foundation for Government Accountability CEO Tarren Bragdon. “Our money says In God We Trust. The central bank digital currency changes that to In Government We Trust. That’s wrong and I am grateful for the Governor’s continued pushback of an out-of-control DC bureaucracy.”
A federally controlled Central Bank Digital Currency is the most recent way the Davos elites are attempting to backdoor woke ideology like Environmental, Social, and Governance (ESG) into the United States financial system, threatening individual privacy and economic freedom. Unlike a decentralized digital currency, a CBDC is directly controlled and issued by the government to consumers, giving government bureaucrats the ability to see all consumer activity and the power to cut off access to goods and services for consumers.
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.