Desantis: Big Brothers Digital Dollar, Not In Florida!

"The Biden administration’s efforts to inject a Centralized Bank Digital Currency is about surveillance and control,”

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Governor Ron DeSantis Announces Legislation to Protect Floridians from a Federally Controlled Central Bank Digital Currency and Surveillance State

The legislative proposal protects consumers and businesses from a federally controlled CBDC by:

Expressly prohibiting the use of a federally adopted Central Bank Digital Currency as money within Florida’s Uniform Commercial Code (UCC).
Instituting protections against a central global currency by prohibiting any CBDC issued by a foreign reserve or foreign sanctioned central bank.
Calling on likeminded states to join Florida in adopting similar prohibitions within their respective Commercial Codes to fight back against this concept nationwide.

“The Biden administration’s efforts to inject a Centralized Bank Digital Currency is about surveillance and control,” said Governor Ron DeSantis. “Today’s announcement will protect Florida consumers and businesses from the reckless adoption of a ‘centralized digital dollar’ which will stifle innovation and promote government-sanctioned surveillance. Florida will not side with economic central planners; we will not adopt policies that threaten personal economic freedom and security.”

Politician Preparing For CBDC

This all might sound like a crazy plot from a science-fiction film, but it isn’t. The Federal Reserve has been studying the advantages of developing a programmable central bank digital currency for years, and President Joe Biden ordered the federal government to weigh the advantages and disadvantages of a programmable currency in March 2022.

In September 2022, Biden released "policy objectives" for a future digital currency. He also directed the federal government to study the issue further, and instructed the leadership of key government agencies, including the National Security Council and Treasury Department, to meet "regularly" with officials from the Federal Reserve to "discuss the working group’s progress and share updates ... on CDBC and other payments innovations."

Credit Suisse's Buyout Shows More Banking Failures To Come

Instead of failing because Bitcoin made banking services obsolete, Credit Suisse failed because it wasn’t good at being a bank. Remember in 2021 when Credit Suisse took $5.5 billion of losses on loans in connection to Archegos? And remember how it was embroiled in enough fraud in 2014 that it had to pay $2.6 billion to the United States Department of Justice?

FBBA Special Notice

Web3 Day At The Capitol May 2nd 2023

The Florida Blockchain Business Association will be hosting its Third Annual Blockchain Day at the Capitol on May 2nd, 2023 in Tallahassee. Stay tuned as more information will be presented in coming news letters. If you are interested in attending please click here and type "Blockchain Day At The Capitol" in the message. This event is limited.

Featured Podcast/Youtube

In this episode hosts JoshuaJake and Samuel Armes, along with guest Jeff Vandrew, the General Counsel for Unchained Capital, discuss the current state of banking and the potential for another economic depression.

Analytical Data

The Fed added $0.3 trillion ($300 billion) in assets to its portfolio last week.

Housing Bubble is popping in Canada.

In The Know

Desantis Is Seizing The Ultimate Political Issue With CBDC’s

Central Bank Digital Currencies (CBDCs) are a diabolic technology that threaten all of our freedoms, and stopping them should be a bipartisan issue that all members in both parties should be against

https://substack.com/inbox/post/109646478

Fed Preview: Powell Likely to Raise Rates by 25 Basis Points Against Crypto Market's Hope for Status Quo

Not raising rates now may make it more difficult later, some analysts say.

https://www.coindesk.com/markets/2023/03/21/fed-preview-powell-likely-to-raise-rates-by-25-bps-against-crypto-markets-hope-for-status-quo/

Crypto Fear and Greed Index hits highest level since Bitcoin’s all-time high

The Crypto Fear and Greed Index hit a score of 66 on March 20, a number not seen since November 2021 when Bitcoin reached an all-time high of over $69,000.

https://cointelegraph.com/news/crypto-fear-and-greed-index-hits-highest-level-since-bitcoin-s-all-time-high

India’s Central Bank Seeking Privacy Legislation for Retail CBDC Users

The RBI is seeking a provision that would allow customers to delete transactions to maintain anonymity if they so choose to.

https://www.coindesk.com/policy/2023/03/21/indias-reserve-bank-seeking-delete-provision-to-solve-cbdcs-privacy-problem/

Events

Click here for events & meetups in March 2023

Crypto News Heard Around the State

Tampa News

Dunedin credit union first in Florida to launch crypto services app

Achieva Credit Union will let members trade, buy and sell Bitcoin on their phones.

https://www.tampabay.com/news/business/2022/06/08/dunedin-credit-union-first-in-florida-to-launch-crypto-services-app/

Orlando News

Tech leading lady Randi Zuckerberg says now is time for women to pursue digital careers

Women+Tech Scholars program at DeVry University can help prepare women for those tech careers

https://www.clickorlando.com/features/2023/03/10/tech-leading-lady-randi-zuckerberg-says-now-is-time-for-women-to-pursue-digital-careers/

Miami News

Cryptocurrency Exchange Suspends Trading of Suarez-Backed MiamiCoin

The suspension of MiamiCoin trading is a big blow to the "most bitcoin-friendly mayor on the planet," who claimed the city's crypto revenue could one day replace municipal taxes.

https://www.miaminewtimes.com/news/cryptocurrency-exchange-suspends-trading-of-miamicoin-nyccoin-16552275

Miami Man Arrested for Allegedly Scamming People in Cryptocurrency Scheme

A Miami man accused of running a fraudulent cryptocurrency and stock investment scheme was arrested in Colorado.

https://www.nbcmiami.com/investigations/miami-man-arrested-for-allegedly-scamming-people-in-cryptocurrency-scheme/2997355/

Jacksonville News

It's Election Day in Jacksonville.

Four years ago, Duval County Democrats did not run a candidate for Mayor. They aren’t making that mistake this time around, and the hopes are for a more competitive election than they saw in 2019.

The Mayor’s Office and the Property Appraiser’s office, both of which are open, are up on the First Election ballot. Also this year, most City Council seats are contested. Sheriff TK Waters and Supervisor of Elections candidate Jerry Holland have no competition, and voters will not be compelled to weigh in on those elections.

The mayoral race will be the most closely watched. Seven candidates are on the ballot, representing one of the most crowded fields in local history. Democrats Donna Deegan and Audrey Gibson and Republicans LeAnna Gutierrez Cumber, Daniel Davis, and Al Ferraro are the ones with the most name value. Polling suggests Deegan and Davis will advance to a May runoff, with neither coming close to majority support to close it out Tuesday.

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Politician Preparing For CBDC