Presidential Candidate Ron DeSantis for the 2024 election pledges to start acting right away after taking office by outlawing central bank digital currencies (CBDC) “on day one.”
This audacious position has sparked passionate discussions about the potential future of digital currencies and their place in our financial systems. The country is avidly watching to see if DeSantis can fulfill his campaign pledge and what it would imply for the financial industry as the fight for the presidency heats up.
This new update has the potential to change how the world of digital currencies is currently seen.
“Well, if I am the president on day one, we will nix central bank digital currency. Done, dead, not happening in this country.”
Ron DeSantis spoke in the Family Leadership Summit (principle over politics) 2023.
Moreover, a number of potential candidates for the presidency recently declared their opposition to CBDCs. Future digital currency detractors portray it as an effort by the government to track and even regulate citizen transactions.
Theoretically, a CBDC might be made to work with some products but not others. Ron DeSantis, the governor of Florida and a possible Republican candidate, stated earlier that the federal government might use a CBDC to limit petrol sales or prevent you from purchasing an excessive number of firearms.
“Expect this CBDC issue to become a talking point in the presidential campaign,” said Ron Hammond, the Blockchain Association’s director of government affairs earlier this year. The bank crisis is the “perfect intersection of fear of the government, China, and financial collapse.”
2023 already has the makings of being a significant year for central bank digital currency (CBDC) research. As of March 1, 65 nations were in an advanced level of development, and over 20 central banks, including those in Brazil, Japan, and Russia, had started their pilot programmes. Also Ripple intends to make it possible to tokenize real estate assets through its Central Bank Digital Currency (CBDC)