Florida Governor Ron DeSantis made a bold entrance into the US Presidential race yesterday, announcing his campaign on the popular social media platform Twitter Spaces. Joining him for the announcement was renowned entrepreneur Elon Musk, attracting an audience of nearly 300,000 listeners. During the live session, Governor DeSantis expressed his commitment to protecting Bitcoin if elected as President.
“I think people should be able to do Bitcoin. As president, we’ll protect the ability to do things like Bitcoin,” DeSantis asserted, capturing the attention of crypto enthusiasts and market participants alike.
Governor DeSantis’s remarks come at a time when US regulators have adopted a more stringent stance towards cryptocurrencies. Gary Gensler, the Chair of the US Securities and Exchange Commission (SEC), recently stated that the majority of cryptocurrencies fall under the category of “securities” and are subject to the commission’s oversight. However, Bitcoin has largely been recognized as a commodity by top regulators, enabling it to steer clear of the securities debate.
As a Republican candidate in the primary election, Governor Ron DeSantis will face off against former President Donald Trump. Notably, DeSantis has previously expressed support for decentralized cryptocurrencies and emphasized the importance of allowing individuals to make their own financial decisions, despite acknowledging the associated risks.
In addition to championing Bitcoin, Governor DeSantis has been a vocal critic of central bank digital currencies (CBDCs). While many central banks worldwide are expediting their efforts to develop CBDCs, DeSantis has strongly denounced them, arguing that they pose a threat to Americans’ financial well-being. He raised concerns that CBDCs could be used for surveillance purposes by the federal government, giving rise to invasive control over citizens’ financial habits.
Earlier this month, Governor DeSantis made waves by successfully passing a proposed bill that renders CBDCs illegal under the Florida Uniform Commercial Code. The move solidifies his commitment to protecting the financial freedoms and privacy of Floridians, rejecting the notion of central authority control.
“I don’t think Congress would authorize it (CBDC bill). We are trying to protect people from CBDCs in Florida. That would mean a huge imposition on people’s financial freedoms and financial privacy. If the central authority has control over it, they would start imposing environmental, social, and governance (ESG) criteria,” Governor DeSantis explained.
With Governor Ron DeSantis joining the US Presidential race, his outspoken support for Bitcoin and stern opposition to CBDCs has ignited further discussions around the future of cryptocurrencies in the United States. As the election campaign unfolds, it remains to be seen how his views on digital assets will resonate with voters and shape the national conversation surrounding financial innovation and regulation.