34 seconds ago | 2 mins read
Market News- Floridian government banned crypto in their nation.
- Governor says the crypto disturbs economic security and freedom.
Ron DeSantis, the 46th governor of Florida, as said before, pledges to ban the Central Bank Digital Currencies (CBDC) in Florida. Furthermore, he also states the reason as the government isn’t satisfied with cryptocurrencies since it has no authority to control or surveillance.
Floridian Governor Bans Crypto
On March 20, Florida’s governor declared a press release regarding the prohibition of digital currencies. He added that the users and the investors are protected from the crypto adoption which questions the economic security and freedom of Floridians. However, several officials including Jimmy Patronis, the State Chief Financial Officer, and Tarren Bragdon, the CEO of the Foundation for Government Accountability joined hands.
Because the Biden administration would demolish the banking sector and credit unions of Floridians, CBDC should be banned, says Ron. Additionally, he says that CBDC probably shrink the market lending power and creates a liability of the Fed government.
Today, Governor DeSantis signed legislation by taking action on CBDC for ESG (Environmental, Social, and Governance) concerns. Furthermore, he claimed that the Floridian government doesn’t want any lending or banking practices that infer the credit score. This could impact negatively on the basic economic determination, Ron added. Thereby, stating crypto is fundamentally wrong and dangerous to the nation.
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Source: https://thenewscrypto.com/florida-governor-signs-legislation-for-cbdc/