Home Crypto News Anti-CBDC Ron DeSantis Drops Out of US President Race

Anti-CBDC Ron DeSantis Drops Out of US President Race

22 Jan, 2024 Crypto News

Anti-CBDC Ron DeSantis Drops Out of US President Race

Ron DeSantis, a critic of the Central Bank Digital Currency (CBDC), has exited the presidential race. On January 21, he announced that he couldn't see a way to win and therefore stopped his campaign.

DeSantis said, “I can't ask our supporters to volunteer their time and donate th

eir resources. We don’t have a clear path to victory. Accordingly, I am today suspending my campaign.”

He revealed his decision in a 4-minute message on X (previously known as Twitter), where he also expressed his support for former President Donald Trump.

DeSantis remarked, “I will not stop now. It’s clear to me that a majority of Republican primary voters want to give Donald Trump another chance.”

In the Iowa Republican primary on January 15, DeSantis came in second to Trump, trailing by 21%. He began his run for the presidency in July 2023 and is currently the governor of Florida.

Early in his campaign, DeSantis promised to ban a digital dollar version if he won.

He declared in Iowa, “If I am the president, on day one, we will nix central bank digital currency. Done. Dead. Not happening in this country.”

Trump holds a similar view. In a speech in Portsmouth, New Hampshire, he pledged to stop the Federal Reserve from creating a CBDC.

He said, “I will never allow the creation of a central bank digital currency.”

A CBDC is a country's fiat currency in digital form. It's different from cryptocurrencies like Bitcoin, which are decentralized and not controlled by any authority.

CBDCs, on the other hand, are centralized and supported by a nation's central bank.

CBDCs could enhance payment efficiency and widen financial access. However, some worry they might reduce privacy and give governments too much power over people.

Sources:

https://cointelegraph.com/news/cbdc-ban-advocate-ron-desantis-ends-us-presidential-race

https://twitter.com/RonDeSantis/status/1749159384112845285

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