I was shocked to learn that Florida Governor Ron DeSantis has signed a new bill banning central bank digital currencies (CBDCs) in the state. This means that no one can issue or use a CBDC or any other digital asset that is intended to be used as money in Florida. It also means that no state agency or local government can accept CBDCs as payment for taxes, fees, or other obligations.
This bill seems to be a direct attack on the innovation and progress that the crypto industry has been making in recent years. CBDCs are digital versions of national currencies that are issued and controlled by central banks. They have the potential to improve financial inclusion, efficiency, and security for millions of people around the world. They could also complement and coexist with other forms of digital money, such as cryptocurrencies and stablecoins.
By banning CBDCs, Florida is missing out on the opportunity to participate in the global digital economy and benefit from its advantages. It is also sending a negative message to the crypto community and investors, who might see Florida as a hostile and backward place for doing business. I think this bill is a huge mistake and a step backward for Florida and the US.
This bill seems to be a direct attack on the innovation and progress that the crypto industry has been making in recent years. CBDCs are digital versions of national currencies that are issued and controlled by central banks. They have the potential to improve financial inclusion, efficiency, and security for millions of people around the world. They could also complement and coexist with other forms of digital money, such as cryptocurrencies and stablecoins.
By banning CBDCs, Florida is missing out on the opportunity to participate in the global digital economy and benefit from its advantages. It is also sending a negative message to the crypto community and investors, who might see Florida as a hostile and backward place for doing business. I think this bill is a huge mistake and a step backward for Florida and the US.