On May 24, Florida Governor Ron DeSantis announced his entry into the United States presidential race. During a Twitter broadcast, he emphasized his commitment to lead a “Great American Comeback,” which drew accusations of plagiarism from former President and fellow 2024 presidential candidate Donald Trump.
While discussing various topics like U.S. immigration policy and “critical race theory,” DeSantis dedicated significant attention to cryptocurrency. He promised to protect the ability to use Bitcoin and vowed to fight against “central planners” in Capitol Hill. This emphasis on crypto has led to DeSantis being seen as the choice for crypto enthusiasts in the 2024 election.
DeSantis has consistently shown support for cryptocurrency over the years. In 2021, he proposed allowing businesses to pay state fees with cryptocurrencies in the state of Florida. He suggested allocating funds to the Florida Department of Financial Services to facilitate crypto payments and explore the potential of distributed ledger technology for various government functions.
The governor’s crypto-friendly stance aligns with the enthusiasm for cryptocurrencies in Florida. Miami, in particular, has become a hub for crypto activities. The city hosted a large Bitcoin event in 2021, and its mayor, Francis Suarez, started accepting his paychecks entirely in Bitcoin. Miami also introduced its own cryptocurrency called MiamiCoin, built on the Bitcoin blockchain, with a portion of the mined coins allocated to the city.
In 2023, DeSantis became more engaged in political discussions surrounding cryptocurrencies. He held a press conference titled “Big Brother’s Digital Dollar,” where he expressed concerns about the Federal Reserve potentially issuing a central bank digital currency (CBDC). He emphasized freedom and privacy concerns associated with a CBDC, arguing that it would provide the government with excessive surveillance powers. DeSantis called on Florida lawmakers and their counterparts from other states to introduce legislation to prohibit modifications to the Uniform Commercial Code to prevent the inclusion of a CBDC.
DeSantis reiterated his opposition to a CBDC when the Federal Reserve publicly stated its intention to seek Congress’s support for its introduction. He argued that any major policy change of that nature should be authorized by Congress and emphasized the importance of holding accountable institutions.
In summary, Governor Ron DeSantis has showcased consistent support for cryptocurrencies, and his emphasis on the topic during his presidential campaign has positioned him as a favored candidate among crypto enthusiasts. He has advocated for crypto-friendly policies in Florida and expressed concerns about the potential risks associated with a central bank digital currency.
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