This story was updated with new information at 2:45 p.m.
PANAMA CITY, Fla. (WMBB) — Governor Ron DeSantis chose Panama City to launch a campaign against the Biden administration’s new digital currency proposal.
“Are you interested in giving these economic central planners more power over our economy?” DeSantis said. “More power over your daily life and your economic activity? I answer that question H-E double hockey sticks no. We cannot have that happening.”
Last year, President Joe Biden signed an executive order that could set the stage for a new national digital currency.
The Central Bank Digital Currency, or CBDC, would be an electronic form of the U.S. dollar.
DeSantis said this method of financial transactions could be dangerous.
“Cash is king,” DeSantis said. “I mean, if you can hold it in your hand, you have power over that. The minute it’s all digitized, somebody else is going to have control over that and it’s just a question of, are they going to let you live your life? Are they going to decide to do things to circumvent what you want to do?”
The Biden administration touts the idea as environmentally sustainable and a way to increase access to consumers who lack the means to join a traditional bank.
Desantis said this central bank digital currency would be an overreach.
“Any way they can get into society to exercise their agenda they will do it,” DeSantis said. “What the central bank digital currency is all about is surveilling Americans and controlling behavior of Americans.”
Desantis asked the Florida legislature to pass a pre-emptive block of the plan.
“Today, I’m here to call on the legislature to pass legislation to expressly forbid the use of CBDC as money within Florida’s uniform commercial code,” DeSantis said. “This will ensure that Florida continues to be a state that supports innovation in the financial sector through the market while protecting against government surveillance over your personal finances.”
Desantis also wants the legislature to forbid any worldwide digital currency that may evolve.
He’s calling on other states to pass the same type of restrictions.
You can watch the full news conference below.