Florida Governor Ron DeSantis proposes banning a digital currency from the Fed, arguing it will stifle innovation and promote surveillance
Florida Governor Ron DeSantis is not on board with the potential launch of a central bank digital currency by the Federal Reserve.that would make Florida the first state in the country to ban the use of digital currencies issued by the Fed or any foreign central bank. The Fed has been studying the feasibility of a CBDC at the direction of President Joe Biden.like its physical fiat counterpart, would be backed by the full faith and credit of the issuing government.
But according to DeSantis, a digital currency issued by the Fed"is about surveillance and control" and would ultimately hurt innovation. DeSantis also argued that any digital currency issued by the Fed would diminish the role of community banks, which have come into focus this month amid the ongoing regional banking crisis.
While there is no official timeline for the launch of a Fed-issued digital dollar, or even confirmation that the Fed will move forward with one, it is set to launch its FedNow Service in July.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ron DeSantis Isn't From the Midwest, But His Politics Were Shaped ThereRon DeSantis' father and mother were both from the Midwest and that's where the likely presidential candidate looks for his values.
Read more »
Ron DeSantis breaks his silence on a possible Trump indictmentFlorida Gov. DeSantis blasts the Manhattan district attorney involved in an ongoing hush money probe against former President Trump, saying he’s “trying to do a political spectacle.”
Read more »
Ron DeSantis slams Alvin Bragg for 'pursuing a political agenda' in possible Trump indictmentGov. Ron DeSantis (R-FL) went after Manhattan District Attorney Alvin Bragg for the possible indictment of former President Donald Trump on Monday.
Read more »
Ron DeSantis knocks Manhattan DA Alvin Bragg over possible Trump chargesRon DeSantis weighed in on Trump's possible indictment today by focusing on the prosecutor involved in the charges, Manhattan District Attorney Alvin Bragg.
Read more »