A central bank digital currency (CBDC), which hasn’t been issued in the U.S., would be banned in Florida if it ever were, per new legislation Gov. Ron DeSantis has signed.
The CBDC ban was one of the Governor’s priorities for the Legislative Session, and it’s now law after he signed SB 7054 at an event in Fort Myers. DeSantis argued the ban is important to protect consumers against government oversight of individual purchases, which could lead to restrictions on purchases of some goods like guns and gas.
“Maybe you bought a firearm last week and they don’t want you to buy another one this week,” DeSantis said. “Anyone with their eyes open can see the dangers of what this type of arrangement would mean.”
President Joe Biden issued an executive order last year calling for a study of CBDC, but his administration hasn’t issued one. DeSantis said the ban was needed in case the Federal Reserve attempted to issue a CBDC without approval from Congress.
It’s unclear if Florida has any authority to ban a CBDC, however. Article I, Section 8 of the U.S. Constitution hands the power “to coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures,” to the U.S. Congress. But state-level regulation of digital currencies is a new issue that hasn’t been decided in the courts.
Despite those concerns, the measure passed with plenty of Democratic support, as only six Democrats voted against it. It passed 116-1 in the House and 34-5 in the Senate.
DeSantis also signed another bill Friday (SB 214) banning credit card companies from issuing a specific merchant class code for firearms and ammunition purchases. Agriculture Commissioner Wilton Simpson pushed the measure as one of his top priorities to guard against a campaign by “liberal elites” to track gun buys.
“If you go and buy ammunition for your firearms and you’re going to get flagged for that?” DeSantis said. “In the state of Florida you will not be flagged for doing that.”
The vote for SB 214 was more along party lines, with just one Democrat, Sen. Darryl Rouson of Tampa, voting with Republicans in favor.
May 12, 2023 at 12:29 pm
Mini Hitler at it again. Meanwhile, fighting with orange Berlusconi to be king kong hog and puppet of the super rich.
May 12, 2023 at 12:55 pm
DeSantis has absolutely no authority to regulate how the Federal Reserve tracks money.
It’s easy for the incompetent leader of America’s “ sunny place for shady people” where Russian and South American money laundering is BIG BUSINESS would not want the Feds looking over the shoulder of Florida’s corrupt politicians and international criminals.
Dont Say FLA
May 13, 2023 at 8:32 am
Blockchain does the exact opposite of what Rhonda is claiming about it. Blockchain is a technology that provides for privacy of individuals. When you put information out there in the world using blockchain technology, you retain control of that information, YOUR information. Blockchain decentralizes ownership of private data that is made available by its owner to some specific audience, keeping the data available only to that audience. Let’s say for example you and all your “Friends” using Blockchain on your Facebooks. You and all your friends could read and share information you provide, but Facebook would be unable to access your personal data. Rhonda doesn’t want Blockchain currency used in Florida because he wants to retain his access to all your expenditures / purchases.
Dont Say FLA
May 13, 2023 at 8:40 am
May 13, 2023 at 9:03 am
The idea of someone knowing that I purchased a firearm by coding the sale is like waving a flag over your residence that u own guns
With gov’t trying so hard to ban weapons in the hands of citizens that flag is their laser guided light as to find you. Another constitutional right being taken away.
Read about Germany prior to the war. We are mimicking their history and most everyone here in the US knows that outcome.
Take your blinders off people…
Dont Say FLA
May 15, 2023 at 8:34 am
Your credit card company already knows you bought a firearm with their credit card based on the price you paid at a gun store. Duh. Rhon DasPanites is just making up scary stories to scare the 2A people who, having been conditioned into a permanent fear, do not think about things they’re told. They, including you, just react out of blind fear that is constantly reinforced by their chosen media and so-called politicians like Rhon DasPanties, all in a wad over super scary drag queens etc. If you bought a gun at WalMart, maybe the would indicate (again, just, to you card issuer) that you didn’t plunk down the $800 on a TV, except WalMart got of the AR-15 business after too many AR-15s showed back up at the WalMarts, not destined for the Returns line.
May 15, 2023 at 12:15 pm
Cryptocurrency and digital currencies are not the same thing. Cryptocurrency is built on Blockchain. It will not be deleted. To be confiscated the perpetrator must have the wallet code and password. Digital currency are not built on Blockchain, would be easier to hack and easily deleted by anyone at the central bank. Such a conclusion by a person writing is a demonstration that they possess no knowledge of the subject and are not competent enough to write about and very likely anything else either.
May 16, 2023 at 11:39 am
Read the bill, it does not block CBDC only defines them. CBDC will allow the fed to controll everything about your life. They are unconstitutional and will lead to total crackdown on society. They are not like Block Chain coins, like BTC and RVN, they are 100% controlled by the Central banks and you can be restricted from purchasing anyting or in a geographical area. You will loose all control of any money you earn with CBDC.
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