Florida’s House and Senate approved the state's anti-central bank digital currency CBDC legislation, dubbed SB 7054. 'Florida won't let it stand,' Rep. Wyman Duggan said.
Upon DeSantis’ signature, SB 7054 provisions will come into effect on July 1, 2023. The bill offers a comprehensive definition of CBDCs and outlines its primary objective: “to safeguard Floridians by banning central bank digital currencies.” The author of the legislation confirms that these regulations would have no bearing on state and local revenue or any indeterminate impact on Florida’s private sector.
Florida’s Chief Financial Officer Jimmy Patronis has championed the bill and maintained that the Biden administration’s priorities will not find fertile ground in the Sunshine State. Heon Wednesday that “The last thing our country needs is a federally controlled centralized bank digital currency weaponized by the Biden administration,” adding that it would merely enable unwarranted government surveillance of Floridians’ financial data.
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