Amid growing concerns over privacy invasion of the central bank digital currency (CBDC), a US state is stepping in to impose a ban to “forbid the use of a CBDC as money.”
Florida Governor, Ron DeSantis, called to outlaw the Fed’s CBDC, citing the role of a digital dollar in “surveilling Americans and controlling the behavior of Americans.”
The anti-CBDC statements were made during a press conference on March 20. Any form of CBDC, according to DeSantis, is “Big Brother’s Digital Dollar.”
No Money Surveillance
The state governor argued that a Fed-issued digital dollar could give an unnecessary amount of power to the central bank’s governors.
The CBDC serves no role but an accessible doorway to get into citizens’ transactional activities. This power level, if misused, potentially endangers their financial freedom, DeSantis added.
DeSantis’ concern is valid, especially when available evidence points to the problems with…
