### Using a central bank digital currency (CBDC) issued by a national central bank would be illegal to use in the state of Florida, according to a new bill proposed by Governor Ron DeSantis. There has been rising concern about effects of CBDCs on financial privacy and the possibility of government surveillance.

In a press release, DeSantis stated to shield Florida consumers from the "reckless adoption of a centralized digital dollar" that would stifle innovation and advance state-sanctioned surveillance. The governor appears to be most worried about the government's ability to use CBDCs to track and monitor individual transactions, which would be a serious breach of financial privacy.



<blockquote className="twitter-tweet"><p lang="en" dir="ltr">Desantis wants to ban CBDC&#39;s in Florida. Wants to support &quot;innovation&quot; in financial tech and protect it from &quot;government&quot; .. <br /><br />What you guys think? <a href="https://twitter.com/hashtag/Desantis?src=hash&amp;ref_src=twsrc%5Etfw">#Desantis</a> for president or nah? <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw">#crypto</a> <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#bitcoin</a> <a href="https://t.co/8w5Jxx7baw">pic.twitter.com/8w5Jxx7baw</a></p>— Cameron Fous (@Cameronfous) <a href="https://twitter.com/Cameronfous/status/1638003197242474496?ref_src=twsrc%5Etfw">March 21, 2023</a></blockquote> 



The governor is worried about the government censoring individual transactions if this kind of currency were to gain traction in the United States. There is rising concern that central banks may abuse CBDCs as a tool of control because they provide governments with unprecedented visibility and influence over monetary transactions.


While Florida, as a state, does not have the authority to ban a CBDC at the federal level, Governor DeSantis' proposal highlights growing concerns around government-controlled digital currencies. It highlights the need for careful consideration and debate about the role of CBDCs in the financial system, particularly its effects on privacy and government control. 



As the use of digital currencies becomes increasingly widespread, it is important for policymakers to address these issues and ensure that the financial system remains transparent, secure, and accountable.

Using a central bank digital currency (CBDC) issued by a national central bank would be illegal to use in the state of Florida, according to a new bill proposed by Governor Ron DeSantis. There has been rising concern about effects of CBDCs on financial privacy and the possibility of government surveillance.

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