US Presidential Candidate Ron DeSantis Promises To Ban Central Bank Digital Currency If Elected

Presidential Candidate for the United States and Governor of Florida, Ron DeSantis, rejects CDBC (photo: twitter @RonDeSantis)

JAKARTA - Presidential Candidate for the United States and the Governor of Florida, Ron DeSantis, once again criticized the central bank's digital currency (CBDC). He even opposes the existence of a "digital dollar" in the country.

Speaking at Family Leadership Summit on July 14, DeSantis promised to ban CBDC in the US if elected president.

"If I become president, on the first day, we will reject the existence of a central bank digital currency. Done. Nothing will be in this country," he said at the event in Iowa, involving six other Republican candidates.

DeSantis is a vocal opponent of the "digital dollar" in the United States. In May, he signed a law in Florida banning the use of federal CBDC as a means of payment. He also banned the use of foreign CBDCs, arguing that it would lead to "a transfer of great power from consumers to central authorities."

A central bank digital currency is not very different from traditional fiat currencies issued by the central bank. This can be defined as a digital version of the currency, which makes it easy for digital assets.

However, CBDC has long been a source of controversy in the crypto community, as opponents argue that CBDC threatens citizens' privacy and could lead to the government's full control, while others see it as a tool to increase digital currency adoption, as well as the global implementation of blockchain technology.

According to Cointelegraph's CBDC database, CBDC projects have grown rapidly in recent years, with more than 100 countries researching this technology and at least 39 countries having test projects, proof of concepts, or CBDC-related initiatives.

The US Central Bank reportedly has no plans to issue a "digital dollar" in the near future, but this situation could change after next year's election, as more candidates discussed crypto-related topics during their initial campaign.

Democratic candidate, Robert F. Kennedy Jr., has promoted Bitcoin as part of a campaign to get a nomination from the Democratic Party as a presidential candidate. He recently revealed Bitcoin investments worth up to 250,000 US dollars (Rp 3.7 billion).