What if the next US President was an ardent Bitcoin advocate and a staunch opponent of CBDCs? Delve into the complex world of Ron DeSantis, the man poised to turn the cryptocurrency establishment upside down as he fights for the most powerful office on earth.
The Rise of Ron DeSantis: Political Career and Crypto Prospects
Ron DeSantis, the current governor of Florida and a potential next US president, is known for its firm stance on cryptocurrencies and central bank digital currencies (CBDCs). In addition, he is a Defender of individual liberty, free market and federalism.
But how has his political career shaped his views on crypto? Started as Navy Attorneylater than congressman and finally as Governor of FloridaDeSantis has had a distinguished political career.
His political beliefs, in particular his Focus on individual freedom and his distrust of big governmentshaped his support for Bitcoin and his opposition to CBDCs.
As part of its pro-Bitcoin stance, DeSantis also has a Signed law legalizing paying taxes in Bitcoin and other cryptocurrencies in Florida.
This move, a first of its kind in the US, is a clear sign of his support for the cryptocurrency industry and a testament to his willingness to spur the crypto revolution.
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Ron DeSantis is trying to avert the danger of CBDCs
Central bank digital currencies (CBDCs) are the talk of the town. She promise a faster, safer and more efficient way to transfer moneywhich benefits both consumers and governments.
But not everyone is enthusiastic about this innovation. The governor of Florida Ron Desantis, has been critical of CBDCs on several occasions and even passed laws that make it difficult to introduce them in his state. In addition, he sees them CBDCs as a threat to its values to, since in his opinion the would increase central bank power, violate citizens’ privacy and undermine state sovereignty.
But Ron DeSantis is not the only politician who is skeptical about CBDCs. Also other Republicans like Ted Cruz or Marjorie Taylor Greene have made similar statements. They fear that CBDCs a form of “digital socialism” who would transfer control of money from the citizens to the government. They also argue that the CBDCs would weaken the US dollar and undermine the US’ role as a global leader.
These views could influence the US Federal Reserve’s (Fed) decision on whether and how to launch its own CBDC. The Fed has not yet announced any concrete plans for a CBDC, only saying that it is researching the topic and working with other central banks. However, she has stressed that she is in no rush and wants to carefully weigh the potential benefits and risks of CBDC.
Possible positive response from voters
In addition, the populations in the USA, Great Britain and Canada Concerns and similar ideas regarding CBDCs. They fear surveillance and destabilization of the financial system. Moreover, according to the want Cato Institute 78% of Americans don’t use CBDCs and 76% are more concerned than excited. doing so 68% disapprove of the government monitoring spending. Another 74% will not accept them if the government can control what they spend their money on.
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DeSanti’s competition in the US presidential election and his crypto stance
In the political arena stands DeSantis in direct competition with former President Donald Trump. Although both politicians agree on some points, their stances on cryptocurrencies differ significantly.
While Trump critical of Bitcoin, but several of his own NFT Collections released, DeSantis sees the potential for financial freedom and innovation. This difference in perspective could prove crucial in the race for the White House.
Another presidential candidate and environmental advocate is Robert F. Kennedy Jr., a dedicated proponent of Bitcoin and other cryptocurrencies. He sees Bitcoin not just as a currency, but as an expression of democracy, enabling financial freedom and personal control over assets. In addition, a campaign now also accepts cryptocurrencies.
Joe Biden, as US President, on the other hand, is highly critical of cryptocurrencies. As part of its economic policy, which is explained annually by the Council of Economic Advisers Cryptocurrencies presented as high risk and low fundamental value. Likewise, Biden is targeting crypto companies tax harder, discourage bogus transactions and minimize the benefits of private digital money through government alternatives.
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DeSanti’s Vision: Impact on Global Crypto Markets
Given his potential presidency, DeSanti’s crypto craze raises questions about the future of global crypto markets. If he became president could his pro-Bitcoin and anti-CBDC views have a significant impact on the crypto market worldwide. For example, the main CBDC cryptocurrency Ripple could suffer.
Legalizing bitcoin payments nationally could push up the bitcoin price while the Rejection of CBDCs could trigger a global debate about the role of central banks in the digital currency world.
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About the author: Simon Feldhusen first came into contact with the stock market 17 years ago and has been dealing intensively with trading, cryptoassets, stocks, P2P, corporate finance, finance and entrepreneurship on a daily basis for more than 8 years. He has also been working as a copywriter and ghostwriter in the financial sector for several years. During this time he has acquired a diversified knowledge through various training courses on the financial markets and following the daily news. Since then, not a day has gone by that he hasn’t engaged with the markets. He publishes for Finanzen.net, ETF-Nachrichten.de, Coincierge.de and P2E News.com.