Presidential candidate Ron DeSantis opposes the Federal Reserve’s CBDC plans in an interview with Tucker Carlson. DeSantis states that his government will act swiftly to stop the launch of a digital currency without congressional approval if elected president, labeling such a move as unlawful.
During the event by Family Policy Alliance, Carlson questioned DeSantis about his CBDC concerns imposed by the Federal Reserve on Americans. DeSantis fears CBDCs could eliminate cash and cryptocurrencies, granting the government excessive spending control. He sees them as a vehicle for an anti-cash and anti-crypto agenda.
🇺🇸 Presidential candidate Ron DeSantis says the Federal Reserve wants to get rid of cash and cryptocurrency. pic.twitter.com/xgCN02LxLm
— Watcher.Guru (@WatcherGuru) July 15, 2023
DeSantis contended that the introduction of CBDCs might lead to the development of a “social credit system”. It would give the government the power to impose restrictions on particular purchases like those for fuel and weapons. He claimed that this would put American freedom and privacy rights in jeopardy. The issue of CBDCs has gained attention as the 2024 election campaign gets underway, especially among Republican Party libertarian sections.
DeSantis and Other Presidential Candidates Voice Concerns on CBDCs
The governor of Florida is hardly the only prospective president who opposes CBDCs. Vivek Ramaswamy, a Republican candidate, has also voiced his worries, claiming that the adoption of CBDCs might potentially result in disaster, much to how ESG (Environmental, Social, and Governance) initiatives evolved following the 2008 financial crisis. Robert F. Kennedy Jr., a supporter of Bitcoin, has condemned CBDCs as tools of oppression and control on the Democratic side.
The criticism of CBDCs by Governor DeSantis is not a recent phenomenon. He signed a law outlawing the use of CBDCs as legal money in Florida in May. In March, DeSantis urged a 20-state coalition to resist federal backing for CBDCs. He encouraged more Republican-led states to introduce legislation against CBDCs.
The positions adopted by presidential contenders are expected to be crucial in determining the future of digital currencies in the United States as the discussion over CBDCs heats up.