Florida Becomes the First State to Ban CBDCs: DeSantis Defends Consumers

Ron DeSantis has just signed a historic law: Florida is now the first U.S. state to officially Block the use of digital coins issued by central banks (CBDC).

What does this mean?

The legislation explicitly excludes CBDCs from the definition of “money” in Florida’s commercial code. It also prohibits CBDCs issued by foreign governments, arguing that it is an attempt to create a global digital currency that would concentrate financial power.

DeSantis’s position

“The government and big credit card companies shouldn’t have the power to freeze your access to the money you earned just because they don’t like your politics,” the governor stated.

DeSantis framed the move as a defense of citizens’ financial privacy, warning that a federal CBDC would enable mass surveillance of personal transactions. From his perspective, the Biden administration’s CBDC project has a real underlying motive of control and supervision.

Implications for crypto

This action marks a turning point in the CBDC vs. decentralized cryptocurrencies debate. While the United States is slowly progressing toward CBDC adoption, Florida has taken a clear stance in favor of individual financial freedom against centralized government control.