On Friday, Governor Ron DeSantis signed two pieces of legislation that take a stand against the creation of a central bank digital currency at the federal level and seek to bar credit card firms from keeping tabs on the transactions of firearms and ammunition.
Under the current version of Florida’s Uniform Commercial Code, digital currency that is issued by the Federal Reserve in the United States or by governments in other countries is considered to be money. One of these proposals (SB 7054) would prohibit this from happening.
During a news conference that took place in Fort Myers, DeSantis addressed the press and talked about the proposals.
In December 2017, Vice President Joe Biden signed an executive order asking government officials to conduct an investigation into the potential drawbacks and advantages of cryptocurrency.
Additionally, recommendations on a digital currency issued by a central bank were requested in response to the decree. A currency like this would operate in a manner comparable to that of cryptocurrencies; yet, there would be key distinctions, such as the value being predetermined by the Federal Reserve.
The bill, which was approved by an overwhelming majority of the legislature that is controlled by Republicans, was signed into law by Governor DeSantis on Friday.
According to DeSantis, who will almost certainly run for president in 2024, the bill’s primary objective is to prevent the federal government from dictating the ways in which individuals may spend their own money.
“They’re going to be able to have the window into what you’re doing with the money and the ability to control where that money is going,” During the briefing that was held in Fort Myers, DeSantis stated. “They could block, if you filled up your gas tank too much, hey, they’re fighting global warming, ‘You can’t do any more.’ Maybe you bought a firearm last week. They don’t want you to buy another one this week.”
The other piece of legislation that was passed on Friday and signed into law was Senate Bill 214, which prohibits credit card companies in the state of Florida from employing a distinct “merchant category code” for transactions that take place at gun shops.
A variety of retail establishments, including supermarkets, petrol stations, restaurants, and bookstores, currently employ codes of this kind, each consisting of four digits, to categorize customers’ purchases and compile customer information.
During the course of the previous year, Visa, Mastercard, and American Express made public their intentions to classify transactions made at gun shops. However, in response to opposition from Republicans in a number of states, the plans have been put on hold for the time being. The new regulations are scheduled to go into effect on July 1st.