Governor Ron DeSantis, a vocal opponent of Central Bank Digital Currency (CBDC), has officially suspended his presidential campaign and pledged his support to former US President Donald Trump. DeSantis, who is also the Governor of Florida, made the announcement on January 21 via the social media platform X, citing a lack of a clear path to victory as the reason for his withdrawal.
In a 4-minute video, DeSantis stated, "I can't ask our supporters to volunteer their time and donate their resources. We don't have a clear path to victory. Accordingly, I am today suspending my campaign." He confirmed speculations by expressing his backing for Trump, noting, "It's clear to me that a majority of Republican primary voters want to give Donald Trump another chance."
DeSantis, known for his support of Bitcoin, has consistently opposed the concept of a government-issued CBDC, considering it a threat to financial freedom. Before launching his presidential campaign in July 2023, he signed a bill into law restricting the use of CBDC in Florida. Additionally, he pledged to enact a ban on a potential version of the digital dollar if elected president.
During a speech at the Family Leadership Summit in Iowa, DeSantis asserted, "If I am the president, on day one, we will nix central bank digital currency. Done. Dead. Not happening in this country."
While the Federal Reserve is exploring the feasibility of a digital dollar, concerns about threats to financial freedom have already been voiced by several politicians. Trump, too, has vowed to prevent the issuance of a CBDC, emphasizing the potential risk of granting the federal government "absolute control" over citizens' finances. In a recent campaign speech, Trump stated, "I will never allow the creation of a Central Bank Digital Currency. Such a currency would give the federal government, our federal government, absolute control over your money… They could take your money, and you wouldn't even know it was gone."
Xu Lin