FIRST ON FOX: The team for Florida Gov. Ron DeSantis on Saturday released a new video first obtained by FOX Business that follows the governor signing legislation to ban the use of a central bank digital currency, or CBDC, in the Sunshine State.
One day before the video’s release, DeSantis signed legislation prohibiting a federally adopted CBDC as money within Florida’s Uniform Commercial Code. The new law also implements protections against a central global currency by prohibiting any CBDC by a foreign reserve or sanctioned central bank and calls on other states to join in passing similar legislation.
The Federal Reserve defines CBDC as “a digital form of central bank money widely available to the general public,” meaning the central bank — the Federal Reserve in the case of the U.S. — would be liable for the money rather than a commercial bank.