Ron DeSantis' Views on Cryptocurrency

Ronald Dion DeSantis (born September 14, 1978) is the governor of Florida, a candidate in the 2024 United States Presidential Election, and a member of the Republican Party. During his presidential candidacy announcement, DeSantis spoke about how he would protect the rights of people to use . [3]

In May of 2022, DeSantis signed a bill to prevent the use of CBDCs in Florida. In 2021, as part of his Freedom First Budget proposal, DeSantis proposed funding to enable Florida to accept payments for state fees on Bitcoin. The proposal also included funding to research the use of  technology to keep and provide motor vehicle titles, as well as to validate Medicaid transactions and detect fraud. [1][2]

2024 US Presidential Campaign Announcement Comments on Bitcoin

On May 24, 2023, DeSantis announced his presidential candidacy for the 2024 US Presidential Election in a Twitter Spaces event hosted by David Sacks and Elon Musk. During the event, DeSantis spoke about his support for people's right to use technology like Bitcoin and criticized the Biden administration's stance on Bitcoin.

“You’ve got every right to do bitcoin. The only reason these people in Washington don’t like it is because they don’t control it. They’re central planers, and they want to have control over society. So bitcoin represents a threat to them and so they’re trying to regulate it out of existence.

Look, could Congress enact a statute to ban things like bitcoin under the constitution? They may be able to do, I would oppose that. I think people should be able to do bitcoin, but Congress has never addressed this in this fashion and for the bureaucracy to just do it on their own and so make it that people can not operate in that space, that’s what we mean when we say we’ve got to return the government to the people.

As president we’ll protect the ability to do things like bitcoin. I think these are people that are sophisticated. They can make decisions. There’s risks involved with it, but let them do that.

I just don’t have an itch to have to control everything that people may be doing in this space and I think that the current regime, clearly they have it out for bitcoin and if it continues for another four years, they’ll probably end up killing it.” [2]

SB 7054 Prohibiting the Use of CBDCs in Florida

SB 7054 prohibits the use of a federally adopted central bank digital currency (CBDC) by excluding it from the definition of money within Florida’s Uniform Commercial Code, the state’s governing laws for commercial transactions. Additionally, the bill prohibits the use of foreign-issued CBDCs. [1]

Governor Ron DeSantis explained his support for the bill:

"The government and large credit card companies should not have the power to shut off access to your hard-earned money because they disagree with your politics. Biden’s Central Bank Digital Currency aims to increase government control over people’s finances, and we will not allow it. In Florida, we value personal freedom and won’t allow self-interested elites to chip away at our liberty.”

Jimmy Patronism CFO for the State of Florida, explained:

“The last thing our country needs is a federally controlled Centralized Bank Digital Currency weaponized by the Biden administration,” said Chief Financial Officer Jimmy Patronis. “It’s just another way for Floridians to have their vital financial information surveilled and controlled by the federal government. No one asked for this, and Florida won’t let it stand. Every day, your privacy and financial freedoms are under attack, but thankfully we have leaders like Governor DeSantis fighting to Keep Florida Free.”

Funding for Blockchain Research and Accepting Cryptocurrency Payments for State Fees

In December of 2021, Governor Ron DeSantis released Florida's Freedom First Budget proposal for with recommendations for fiscal year 2022-2023. In his "Freedom First Budget," DeSantis proposed sending $200,000 to the state's financial services department to enable it to accept cryptocurrency as payment for state fees and taxes from Florida businesses. [4]

He also recommended funding another $500,000 to research the use of blockchain technology to keep and provide motor vehicle titles, as well as to validate Medicaid transactions and detect fraud. According to a Fortune report, DeSantis stated that he wants the state government to be "crypto-friendly." [3]

In March of 2023, during a signing ceremony for a bill to mandate high school financial literacy classes, DeSantis insisted that the state of Florida is working toward accepting digital currencies like bitcoin (BTC). [5]

“I’ve told the state agencies to figure out ways where if a business wants to pay tax in cryptocurrency to Florida, we should be willing to accept that. We will accept Bitcoin, we’re working on doing that, for payments in the state of Florida.”

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Ron DeSantis' Views on Cryptocurrency

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Edited On

June 8, 2023

Reason for edit:

fixing quotes


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