U.S. presidential candidate Ron DeSantis has once again criticized central bank digital currencies (CBDCs), opposing the possibility of a digital dollar in the country.

At the Family Leadership Summit on July 14, DeSantis pledged to ban CBDCs in the U.S. if he were elected president. “If I’m president, on day one, we’re going to eliminate central bank digital currencies. Do. Die. Not happening in this country,” he said at the event in Iowa, which included six other Republican candidates.

DeSantis is an outspoken opponent of a U.S. digital dollar. In May, he passed a bill in Florida that would ban the use of a federal CBDC as currency, while also banning the use of foreign CBDCs, claiming that it would result in a “massive transfer of power from consumers to central authorities.”

Central bank digital currency is not much different from traditional currency issued by the central bank. It can be defined as a digital version of legal tender, bringing the convenience of digital assets.

However, it has long been a source of controversy in the crypto community, with opponents claiming that CBDCs threaten citizens’ privacy and could lead to absolute government control, while others see it as a tool to promote adoption and a global use case for blockchain technology.

According to Cointelegraph’s CBDC Database, CBDC projects have developed rapidly in recent years, with more than 100 countries exploring the topic and at least 39 countries conducting CBDC pilots, proof-of-concepts, or other related initiatives.

The Federal Reserve reportedly has no plans to issue a digital dollar anytime soon, but that could change after next year’s election as more candidates discuss crypto-related topics during their early campaigns. Robert F. Kennedy Jr. has been promoting Bitcoin since May as part of his bid for the Democratic presidential nomination. He recently disclosed a Bitcoin investment worth up to $250,000.

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Author: Deepchain DCNews

Compiled by: Sister Shen

Twitter: DeepChain

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