DeSantis Propses Florida Ban on Central Bank Digital Currency

Florida’s premier governor Rick DeSantis is making waves again, and this time it’s with his ban on Central Bank Digital Currency (CBDC). The ban is intended to ensure that only “real” money such as cash and other physical forms are used in the state.

Here’s What the Ban Proposes

DeSantis’ proposal is intended to ensure that Floridians are only using legally recognized money in the state. It would outlaw the use of CBDC in day-to-day transactions, such as purchasing goods or services.

Reasons Behind the Proposed Ban

DeSantis’ team has put forward several reasons why a ban on CBDC would be beneficial to Floridians.

  • It will prevent the inflation of currency that could make goods and services more expensive.

  • It will provide more control over the value of currency, allowing it to be stabilized and encouraging economic growth.

  • It will put more control over the money supply, meaning more cash can be generated when needed.

  • It will reduce fraud, as money is less likely to be printed illegally.

Opposing the Proposed Ban

Of course, not everyone is in favor of DeSantis’ proposed ban. Critics argue that CBDC could offer a viable alternative to cash in some areas, and that it could provide opportunities for people to access banking services and make payments more easily.

Why We’re Not Taking this Ban Too Seriously

Let’s be honest, the chances of this ban actually getting implemented in Florida are slim to none. Not only is this a very uncontroversial and widely accepted form of money, but the fact that DeSantis is proposing something that goes against the traditional norms of banking makes it a non-starter.

Plus, let’s not forget that Florida is a state that boasts some of the most nonsense-filled politics in the US. So for us, this ban is nothing more than another good headline for DeSantis to use for his political gain.

All in all, it looks like DeSantis may have reached the end of his CBDC proposal – at least for now!