"Does everyone agree that this US presidential candidate wants to ban CBDC?"
Ron DeSantis, the candidate for the presidency of the United States (US) and the Governor of Florida who opposes the digital dollar in the country has again criticized the central bank digital currency (CBDC).
Speaking at the Family Leadership Summit on July 14, 2023 featuring six other Republican Party candidates, DeSantis pledged to ban CBDC in the US if elected president.
It is well known that DeSantis is an outspoken opponent of the digital dollar in the US after he in May 2023 signed a bill in Florida that banned the use of federal CBDCs as money.
He also banned the use of foreign CBDCs claiming it would lead to a massive transfer of power from users to central authorities.
So here it can be seen that CBDC is not too different from traditional currency issued by central banks as it can be defined as a digital version of fiat currency.
However, the issue has sparked controversy as the cryptocurrency community claims that CBDCs will threaten people's privacy and lead to absolute government control.
However, some crypto investors see CBDC as a tool to increase global adoption of blockchain technology.
Over the past few years, the CBDC project has grown significantly as more than 100 countries are researching the technology while 39 countries are currently in pilot or other phases.
There is no denying that the Federal Reserve (Fed) has no intention of issuing CBDCs anytime soon, but its stance may change after next year's election as many candidates have been vocal about crypto during their primary campaigns.
