Governor Ron DeSantis Signs First-in-the-Nation Legislation to Protect Against Government Surveillance of Personal Finances
On May 12, 2023, in News Releases, by Staff
Senate Bill 7054 Prohibits the Use of a Central Bank Digital Currency in Florida
FORT MYERS, Fla. — Today, Governor Ron DeSantis signed Senate Bill (SB) 7054 and SB 214 to protect the personal finances of Floridians from government overreach and woke corporate monitoring. SB 7054 prohibits the use of a federally adopted central bank digital currency (CBDC) by excluding it from the definition of money within Florida’s Uniform Commercial Code. Additionally, the bill prohibits foreign-issued CBDC to protect consumers against globalist efforts to adopt a worldwide digital currency. SB 214 prohibits credit card companies from using firearm-specific Merchant Category Codes and institutes a fine for violations of Florida’s consumer protections against gun owner registries.
https://www.flgov.com/2023/05/12/governor-ron-desantis-signs-first-in-the-nation-legislation-to-protect-against-government-surveillance-of-personal-finances/
Texas introduced a bill to ban the Central Bank Digital Currency.
According to the draftees, CBDC is a bad idea.
On May 12, Texas announced that they were introducing a bill to ban the Central Bank Digital Currency (CBDC) in their state by the 88th legislature. According to the draftees, CBDC is a bad idea.
A Central Bank Digital Currency is the digital form of a country’s fiat currency. CBDC is a liability of the Federal Bank rather than a liability of commercial banks. Texas, a state in the south-central region of the United States, introduced a bill to ban CBDC.
The bill states the retail of CBDCs is issued to the general public, establishing a relationship between the Federal Reserve and the consumer. This may result in unprecedented levels of government surveillance and control over the individual’s cash holdings and transactions.
A government-controlled digital currency has become a trending topic among government officials, with many against the CBDC idea. This is not the first time a state has banned CBDC. Recently, Florida Governor Ron DeSantis banned CBDC within the state. Moreover, Senator Ted Cruz stated that the implementation of CBDC would be dangerous to society. In March, Ted Cruz introduced a bill to ban the Federal Reserve from adopting CBDC.
https://thenewscrypto.com/texas-takes-a-stand-against-central-bank-digital-currency-cbdc/