Why is the CBDC In Use in Florida Right Now?

The CBDC is In Use in Florida Right Now
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Why is the CBDC In Use in Florida Right Now?

"In effect, the bill amends Florida’s UCC to exclude CBDC as “money” for purposes of Florida’s UCC. Therefore, CBDC, as defined in the bill, could not be used in Florida as money." myfloridahouse.gov

May 12, 2023 — Therefore, CBDC, as defined in the bill, could not be used in Florida as money. The bill will become effective July 1, 2023. flsenate.gov

“We have also worked with other members of the House Financial Services Committee to prohibit a Central Bank Digital Currency (CBDC) from being issued in the United States. President Trump’s Executive Order solidifies that we are in lockstep when it comes to protecting the financial privacy of Americans. financialservices.house.gov

President Donald Trump Executive Order:
(v) taking measures to protect Americans from the risks of Central Bank Digital Currencies (CBDCs), which threaten the stability of the financial system, individual privacy, and the sovereignty of the United States, including by prohibiting the establishment, issuance, circulation, and use of a CBDC within the jurisdiction of the United States.

Sec. 5. Prohibition of Central Bank Digital Currencies.

(a) Except to the extent required by law, agencies are hereby prohibited from undertaking any action to establish, issue, or promote CBDCs within the jurisdiction of the United States or abroad.

(b) Except to the extent required by law, any ongoing plans or initiatives at any agency related to the creation of a CBDC within the jurisdiction of the United States shall be immediately terminated, and no further actions may be taken to develop or implement such plans or initiatives.

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