Florida’s governor and the latest leadership candidate for the Republican Party engaged in a Twitter space conversation with Elon Musk, discussing cryptocurrency and central bank digital currencies.
During the conversation, the Republican contender, Ron DeSantis, expressed his support for crypto, stating, “The current regime, clearly, has it out for Bitcoin.” DeSantis officially announced his bid for U.S. president and voiced concerns that if the current regime continues for another four years, they may ultimately stifle Bitcoin.
DeSantis sees cryptocurrency as a matter of civil liberties. As governor of Florida, he signed legislation prohibiting the use of central bank digital currencies within the state, although some legal experts question the effectiveness of the law.
“I do not have the desire to control everything that people do in this space,” DeSantis emphasized. “Bitcoin represents a threat to them, and they are attempting to regulate it out of existence.” During the interview, he stressed the importance of congressional authorization for a central bank digital currency (CBDC), stating that he would avoid it during his potential presidency due to concerns about its potential misuse for politically motivated transactions.
However, some argue that CBDCs can actually protect constitutional rights related to commerce, providing defense to individuals or merchants involved in controversial purchases that may face difficulties when dealing with private companies.
Regardless, CBDCs are becoming a significant wedge issue in U.S. politics. Samuel Armes, president of the Florida Blockchain Business Association, which assisted in drafting DeSantis’ anti-CBDC bill, revealed that DeSantis’ office has received more phone calls about CBDCs than any other typical issue.
A recent poll conducted by Quinnipiac University shows that DeSantis still lags behind former president Donald Trump in support among Republican and Republican-leaning voters, with 56% favoring Trump and 25% supporting DeSantis.
DeSantis is not the first Republican candidate to mention Bitcoin. Vivek Ramaswamy, a former pharmaceutical entrepreneur and a longshot contender, made remarks at Bitcoin 2023 in Miami, suggesting that the next election should be a “referendum of fiat currency” and expressing opposition to CBDCs with a resounding “hell no.”