While much of the financial transactions in the U.S. and globally are digital, a CBDC would be digital only and not available in a tangible form.
Posted BY: | NwoReport
Florida could become one of the first states to reject via legislation plans by the Federal Reserve to implement a central bank digital currency.
House Bill 7049 and related bill Senate Bill 7054 both define the terms of central bank digital currency and money for the purpose of the U.S Uniform Commercial Code, which is a uniformly adopted state law for the transaction of interstate commerce. Both bills would prohibit the use of both federal and foreign-owned CBDC as money while still allowing virtual currencies like Bitcoin.
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The push via the House and Senate bills to reject a central bank digital currency is a key plank in Republican Gov. Ron DeSantis’ legislative priorities this session.
While much of the financial transactions in the U.S. and globally are digital, a CBDC would be digital only and not available in a tangible form.
