Republican Presidential candidate Ron DeSantis said on July 4 that he will immediately block central bank digital currency (CBDC) if he is elected president.
DeSantis said in an interview with Blaze Media:
“If I am the president, on day one, we will nix central bank digital currency — done, dead, not happening in this country … [a] CBDC is a massive threat to American liberty, [and] on January 20, 2025, it goes the ash heap of history.”
According to DeSantis, the Federal Reserve plans to consult the legislative and executive branches of U.S. government and “ideally” have a law passed authorizing a CBDC.
Those comments refer to a 2022 report in which the Federal Reserve made statements matching DeSantis’ description. However, that report also noted that the Federal Reserve does not mean to advance any specific policy; it also said the Federal Reserve “takes no position on the ultimate desirability” of a central bank digital currency. The Federal Reserve’s FAQ page cu
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