Gov DeSantis Signs Bills Safeguarding Personal Finances and Privacy, Restricting Use of Central Bank Digital Currency, Credit Card Monitoring

TALLAHASSEE, FLORIDA—In a first-of-its-kind legislation, Governor Ron DeSantis of Florida has enacted measures to protect citizens from potential government overreach in personal finances, according to a press release from his office.

The legislation includes Senate Bill (SB) 7054 and SB 214, which respectively address concerns related to the use of a central bank digital currency (CBDC) and monitoring by credit card companies.

As stated in the press release, Governor DeSantis signed the bills “to protect the personal finances of Floridians from government overreach and woke corporate monitoring.”

The move is seen as a significant milestone in the ongoing debate about the role of government and corporations in personal financial matters.

“The government and large credit card companies should not have the power to shut off access to your hard-earned money because they disagree with your politics,” said DeSantis. “Biden’s Central Bank Digital Currency aims to increase government control over people’s finances, and we will not allow it. In Florida, we value personal freedom and won’t allow self-interested elites to chip away at our liberty.”

SB 7054 specifically “prohibits the use of a federally adopted central bank digital currency (CBDC) by excluding it from the definition of money within Florida’s Uniform Commercial Code.”

This legislation is a direct response to increasing concerns about the potential implications of a federally adopted CBDC on personal privacy and financial freedom.

In addition to the domestic considerations, the bill goes a step further to protect consumers against international efforts to promote a global digital currency.

The press release points out that the bill “prohibits foreign-issued CBDC to protect consumers against globalist efforts to adopt a worldwide digital currency.”

Meanwhile, SB 214 takes aim at credit card companies and their ability to monitor specific purchasing behaviors.

It “prohibits credit card companies from using firearm-specific Merchant Category Codes,” according to the press release.

By doing so, the bill seeks to prevent the creation of gun owner registries, which could potentially infringe upon the rights of firearm owners in the state.

The legislation does not stop at merely prohibiting these practices; it also introduces penalties for violations.

The press release states that the bill “institutes a fine for violations of Florida’s consumer protections against gun owner registries.”

The legislation marks a significant shift in Florida’s approach to personal finance, digital currencies, and consumer protection.

“The last thing our country needs is a federally controlled Centralized Bank Digital Currency weaponized by the Biden administration,” said Chief Financial Officer Jimmy Patronis. “It’s just another way for Floridians to have their vital financial information surveilled and controlled by the federal government. No one asked for this, and Florida won’t let it stand. Every day, your privacy and financial freedoms are under attack, but thankfully we have leaders like Governor DeSantis fighting to Keep Florida Free.”