DeSantis Pushes for Ban on Centralized Digital Currencies in Florida

Florida Governor Ron DeSantis is pushing for a bill that would ban a federal digital currency in his state, citing concerns about government surveillance and control. The Biden administration is currently exploring the possibility of a central bank digital currency (CBDC), but DeSantis and other Republican lawmakers are opposed to the idea. The Treasury Department has announced that it is developing technology for a federal digital currency, but Federal Reserve Chair Jerome Powell has said that the agency will not take any action without congressional approval.