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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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.
“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.”
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."
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.
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.
The Fed added $0.3 trillion ($300 billion) in assets to its portfolio last week.
Housing Bubble is popping in Canada.
In The Know
Click here for events & meetups in March 2023
Crypto News Heard Around the State
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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