Ron DeSantis Vows to Eliminate CDBC if Elected President

Ron DeSantis, a candidate for president of the United States, has criticized central bank digital currencies (CBDCs) once more, arguing against the possibility of a digital dollar in the country.

On July 14, at the Family Leadership Summit, DeSantis pledged to prohibit CBDCs in the United States should he be elected president.

“If I were president, we would eliminate central bank digital currency on day one.” Done. Dead. Not in this country,” he said at the Iowa event, where six other Republican candidates were present. DeSantis is an outspoken opponent of the introduction of a digital currency in the United States.

In Florida, he enacted a bill in May prohibiting the use of federal CBDCs as money as well as the use of foreign CBDCs, claiming it would result in a “massive transfer of power from consumers to a central authority.”

A digital currency issued by a central bank is similar to a traditional currency issued by a central bank. It can be described as a digital version of fiat currency that carries the benefits of digital assets.

Tucker Carlson and Ron DeSantis during the Family Leadership Summit. Source: NBC News.

However, it has long been a source of controversy in the crypto community, with opponents claiming that CBDCs threaten the privacy of citizens and could lead to absolute government control, while others view it as a tool to increase adoption and a global use case for blockchain technology.

According to the CBDC database, CBDC projects have expanded considerably over the past few years, with over 100 countries investigating the topic and at least 39 nations pursuing CBDC pilot, proof-of-concept, or other related initiatives.

Reportedly, the US Federal Reserve has no plans to issue a digital dollar soon. However, this may alter after next year’s election as more candidates discuss crypto-related topics in their early campaigns.

Robert F. Kennedy Jr. has promoted Bitcoin as part of his campaign for the Democratic presidential nomination since May. He recently disclosed Bitcoin investments worth up to $250,000 in value.