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The Republican Party's newest aspirant for leadership boldly declares themselves a staunch advocate for the world of cryptocurrency.
“The current regime, clearly, has it out for Bitcoin,” Ron DeSantis said during a Twitter space with Elon Musk and venture capitalist David Sacks in which he officially announced his bid for U.S. president. “And if it continues for another four years, they’ll probably end up killing it.”
DeSantis expressed his perspective on cryptocurrency, considering it as a matter of individual freedoms. During his tenure as Florida's governor, he took the initiative to enact a law that forbids the utilization of central bank digital currencies within the state. However, there are concerns among certain legal experts regarding the actual effectiveness of this legislation.
“I just do not have the itch to have to control everything that people may be doing in this space,” he said. “Bitcoin represents a threat to them, they’re trying to regulate it out of existence.”
Throughout the interview, DeSantis emphasized the importance of obtaining Congressional authorization for a Central Bank Digital Currency (CBDC). He made a firm commitment to refrain from implementing it during his potential presidency, citing concerns about potential misuse and its potential to influence politically unfavorable transactions.
Nevertheless, proponents contend that Central Bank Digital Currencies (CBDCs) confer constitutional safeguards on commercial activities, affording undesirable buyers or sellers, like individuals purchasing ammunition or pornographers peddling their creations, a legal recourse against being excluded from financial services. This defense, they argue, is not available when engaging with private entities.
Nevertheless, Central Bank Digital Currencies (CBDCs) could potentially become a prominent point of contention in the realm of U.S. politics.
During a recent interview with CoinDesk, Samuel Armes, president of the Florida Blockchain Business Association, who played a significant role in drafting Governor DeSantis' legislation opposing CBDCs, revealed that DeSantis' office has received a higher volume of phone calls regarding CBDCs than any other typical concerns.
According to a recent survey conducted by Quinnipiac University, former president Donald Trump continues to maintain a higher level of support among Republican and Republican-leaning voters compared to DeSantis. The poll revealed that 56% of respondents expressed their support for Trump, while DeSantis garnered 25% of the support.
DeSantis isn't the initial Republican candidate to bring up bitcoin. Vivek Ramaswamy, a former pharmaceutical entrepreneur and unlikely contender, made a statement during the Bitcoin 2023 event in Miami, suggesting that the upcoming election should serve as a "referendum of fiat currency" Ramaswamy has expressed strong opposition to central bank digital currencies (CBDCs) by emphatically stating, "hell no."