Notably, conservative Florida Gov. Ron DeSantis, who appears to be laying the groundwork for a presidential run, announced a sprawling legislative package designed to “protect Floridians from the Biden administration’s weaponization of the financial sector through a Central Bank Digital Currency (CBDC).” To that end, DeSantis’ proposals would prohibit the implementation of a federally backed and controlled CBDC based on Florida’s Uniform Commercial Code as well as prohibit any globally designated CBDC issued by a foreign-sanctioned bank or reserve.
“The Biden administration’s efforts to inject a Centralized Bank Digital Currency is about surveillance and control,” DeSantis said in a statement. “Today’s announcement will protect Florida consumers and businesses from the reckless adoption of a ‘centralized digital dollar’ which will stifle innovation and promote government-sanctioned surveillance. Florida will not side with economic central planners; we will not adopt policies that threaten personal economic freedom and security.”
DeSantis, who alluded to initiatives at the federal and international level to create a government-backed cryptocurrency, said he rejects the concept, especially as it represents the introduction of “backdoor woke ideology like Environmental, Social, and Governance (ESG) into the United States financial system.” A CBDC, unlike other popular digital assets like Bitcoin and Ethereum, is directly issued and controlled by a government.
From Twitter
Texas Bitcoin Alliance @TexasCrypto1
"BREAKING: Senator @tedcruz Introduces Legislation to Prohibit the Fed From Establishing a Central Bank Digital Currency #CBDC @federalreserve"
Additionally, South Dakota Gov. Kristi Noem similarly took legislative action to block a bill in her state that would amend provisions of its Uniform Commercial Code. Noem took particular issue with the bill’s definition of money, which would exclude Bitcoin, for example, and in turn, risk the adoption of a CBDC.
The Bitcoin Policy Institute, in its analysis of the recent pushback against CBDCs, expressed some similar concerns to DeSantis and Noem. “It needn’t be stated here, but Central Bank Digital Currencies would be indelibly harmful to economic and personal freedom, and thankfully, the Bitcoin Policy Institute has a healthy archive of articles that both examine and reiterate this reality,” the institute wrote.
From Twitter
Bitcoin Policy Institute @btcpolicyorg
“Backlash against the UCC Article 12 has led to a firestorm among politicians who believe they are rejecting CBDCs. But these reforms represent a boon to Bitcoin, protecting self-custody and giving Bitcoin legal clarity in commerce and lending.” @YaelOss https://www.btcpolicy.org/articles/in-attempt-to-stop-cbdcs-states-are-rejecting-ostensibly-pro-bitcoin-legislation"
Further still, Texas state Rep Cody Harris introduced a resolution to explicitly protect the interests of those who want to own Bitcoin as a way to store wealth and make peer-to-peer transactions. “ … no citizen of Texas shall ever be deprived of their right to own Bitcoin and that all Bitcoin owners will be protected as they enjoy all the privileges associated with the cryptocurrency, including the immunity afforded by censorship-resistant spending of Bitcoin and the ability to store Bitcoin in an unhosted wallet without undue interference from any state agency."
