Potential US President Pledges to Safeguard Bitcoin

Potential US President Pledges to Safeguard Bitcoin

Florida Governor Ron DeSantis has launched his US Presidential Campaign on Twitter Spaces along with Elon Musk, stating that as president, he would protect the ability to do things like Bitcoin, amid US regulators turning hostile towards cryptocurrencies.

On Wednesday, May 24, Florida Governor Ron DeSantis launched his United States Presidential Campaign on Twitter platform Spaces along with Elon Musk. With nearly 300,000 listeners tuned in DeSantis stated that he would undoubtedly protect Bitcoin (BTC) if elected.

“I think people should be able to do Bitcoin. As president, we’ll protect the  potential to do things like Bitcoin,” he said.

The comments come at a time when the United States regulatory authorities have turned hostile to digital currencies. United States SEC chair Gary Gensler indicated that almost every digital currency falls under the category of ‘securities’ and comes under their jurisdiction. Nonetheless, Bitcoin, in particular, has stayed away from the securities debate while most of the top regulatory authorities recognize it as a commodity.

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In the primary election, Republican Candidate Ron DeSantis will take on previous President Donald Trump. In the past, DeSantis has likewise shared his support for decentralized digital currencies. Although while acknowledging the underlying dangers, the Florida Governor indicated that people should be able to make their own decisions. DeSantis said:

“I just do not have an itch to have to control everything that people could be doing in this space, and I think the present regime, clearly, they have it out for Bitcoin (BTC), and if it continues  for another four years, they’ll probably end up killing it”.

Ron DeSantis Lashes Out At CBDCs

Although while the United States and other central banks worldwide have fast-tracked their development of a monetary authority digital currency (CDBC), Florida Governor Ron DeSantis came lashing out at them.

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He thinks that CBDCs are not good for Americans and shall be used for surveillance objectives by the Federal Government to be able to control the financial habits of United States citizens. Earlier these 30 days, DeSantis passed a proposed bill to make CBDCs illegal under the Florida Uniform Commercial Code.

He stated: “I do not think Congress would authorize it (CBDC bill). We are trying to guard people from CBDCs in Florida. That would mean a huge imposition in people’s financial freedoms and financial privacy. If the central authority has control over it, they would start imposing environmental, social and governance (ESG) criteria.”


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