{"id":42986,"date":"2023-08-01T08:07:48","date_gmt":"2023-08-01T12:07:48","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/florida-governor-ron-desantis-vows-to-put-an-end-to-bidens-war-on-bitcoin-as-president\/"},"modified":"2023-08-01T08:07:50","modified_gmt":"2023-08-01T12:07:50","slug":"florida-governor-ron-desantis-vows-to-put-an-end-to-bidens-war-on-bitcoin-as-president","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=42986","title":{"rendered":"Florida Governor Ron DeSantis Vows to Put an End to ‘Biden’s War on Bitcoin’ as President"},"content":{"rendered":"
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Republican presidential candidate and Florida Governor Ron DeSantis has once again proved his support for Bitcoin, taking an oath that he would end the Biden-led administration\u2019s \u201cwar on Bitcoin and cryptocurrency\u201d when elected President.<\/p>\n

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\u201cBiden’s war on bitcoin and cryptocurrency will come to an end when I become president.\u201d<\/p>\n<\/blockquote>\n

The Governor of Florida promised to the crypto community Monday, during a campaign event in New Hampshire.<\/p>\n

DeSantis criticized the current administration\u2019s hostile approach to Bitcoin and other crypto assets and spoke about allowing Americans to invest in the asset class.<\/p>\n

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\u201cWe are going to let Americans invest in things like Bitcoin and cryptocurrency. No one is forcing you to do it, if you want to do it, you can do it.\u201d<\/p>\n<\/blockquote>\n

The US Securities and Exchange Commission (SEC) has indeed been harsh on crypto, calling for regulatory clarity in the sector. The regulator cracked down on several cryptocurrencies, deeming the tokens to be unregistered securities.<\/p>\n

Furthermore, high-profile enforcement actions and investigation warnings from the SEC and the Commodity Futures Trading Commission (CFTC) against crypto entities like \u2013 Kraken, Binance, Coinbase and Paxos \u2013 have triggered an imbalance within the industry, in the country.<\/p>\n

DeSantis Pushes US Crypto Agenda<\/h2>\n

The US Presidential hopeful DeSantis, in May, warned the Biden administration has “it out for Bitcoin” and could end up “killing it” completely if he wins a re-election bid in 2024.<\/p>\n

Notably, DeSantis, alongside Elon Musk, held a Twitter space<\/a> moderated by a venture capitalist, David Sacks, discussing that people who venture into cryptos are sophisticated and can make decisions.<\/p>\n

\u201cAs president, we will protect the ability to do things like bitcoin,\u201d DeSantis said at the time. \u201cI think these are people that are sophisticated, they can make decisions. There are risks involved with it, but let them do that.\u201d<\/p>\n

Strongly Against CBDCs<\/h2>\n

DeSantis reiterated his firm stance against central bank digital currencies (CBDCs), blasting Biden-administration\u2019s consideration for a potential CBDC.<\/p>\n

He said Monday that the current government wants to go to a cashless society, eliminate cryptocurrency and they want all the transactions to go through the CBDC.<\/p>\n

He compared the US CBDC plans to that of China, where the central bank is currently conducting trials on the country\u2019s CBDC \u2013 digital yuan. He further claimed that \u201cunaccountable elites\u201d cannot be trusted to handle a US CBDC.<\/p>\n

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\u201cAs President, on day one, CBDC goes into the trash can. We are not going to allow it.\u201d<\/p>\n<\/blockquote>\n

DeSantis signed a bill to outlaw CBDCs<\/a> in Florida, claiming that the \u201cBig Brother\u201d coin would stifle economic freedom and financial technology innovation.<\/p>\n

\u201cBiden\u2019s Central Bank Digital Currency aims to increase government control over people\u2019s finances, and we will not allow it,\u201d he said at the time of passing the law. \u201cI can tell you, if I\u2019m president, we\u2019re not doing a central bank digital currency. I think that would be a huge, huge imposition on people\u2019s financial freedoms and financial privacy.\u201d<\/p>\n<\/p><\/div>\n