Gov. DeSantis signs bill to ban central bank digital currencies


A central bank digital currency (CBDC), which hasn’t been issued in the U.S., would be banned in Florida if it ever were, per new legislation Gov. Ron DeSantis has signed.

The CBDC ban was one of the Governor’s priorities for the Legislative Session, and it’s now law after he signed SB 7054 at an event in Fort Myers. DeSantis argued the ban is important to protect consumers against government oversight of individual purchases, which could lead to restrictions on purchases of some goods like guns and gas.

“Maybe you bought a firearm last week and they don’t want you to buy another one this week,” DeSantis said. “Anyone with their eyes open can see the dangers of what this type of arrangement would mean.”

President Joe Biden issued an executive order last year calling for a study of CBDC, but his administration hasn’t issued one. DeSantis said the ban was needed in case the Federal Reserve attempted to issue a CBDC without approval from Congress.

It’s unclear if Florida has any authority to ban a CBDC, however. Article I, Section 8 of the U.S. Constitution hands…

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