DeSantis Will Ban CBDC If He Elected As US President in 2024
- Presidential candidate Ron DeSantis plans to ban central bank digital currencies (CBDCs) if he wins in 2024, citing privacy and security concerns
- His promise has sparked debate, with some supporting it for financial stability and others opposing it for hindering innovation
- If DeSantis wins, his decision could significantly change the U.S.'s approach to digital money, impacting the global financial system
Presidential Candidate Ron DeSantis Will Ban CBDC If Elected in 2024
Ron DeSantis, who wants to be president in 2024. He says he will ban central bank digital currencies (CBDC) "on day one" if elected as President of the US in 2024. That means he will stop the use of digital money made by central banks on his first day if he wins. He made this promise at a campaign event on Thursday. This is a big change from what the current leaders think about digital money.
DeSantis is a well-known member of the Republican party. He has often said he doesn't trust digital money made by central banks. He worries about people's privacy, the safety of the money, and the government having too much control. By promising to stop this kind of digital money, he shows that he prefers the old ways of handling money and doesn't like the new digital ways.
"Digital money made by central banks can harm our control over our own money," DeSantis said in his speech. "If I win, I will make sure our money system stays safe from the risks of these digital currencies."
People have different opinions about this. Some people agree with DeSantis. They think stopping digital money will keep the U.S. dollar strong and protect people from money problems. But others disagree. They think stopping digital money will slow down new ideas and growth, and make the U.S. fall behind other countries.
The talk about digital money made by central banks has been getting louder. Some places like China and the European Union are thinking about making their own digital money. The U.S. Federal Reserve, our central bank, is also thinking about the good and bad things about a digital dollar, but they haven't decided yet.
DeSantis' promise is a big step in the talk about digital money. If he becomes president in 2024, the U.S. might change its mind about digital money. As the election gets closer, we don't know what will happen to digital money in the U.S. This could change the way money works all over the world.
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