White House hopeful De Santis sticks it to CBDCs in campaign launch
During a glitch-plagued Twitter Space yesterday evening, US presidential candidate and Bitcoin fan Ron De Santis came out against central bank digital currencies (CBDCs), calling their introduction “a massive transfer of power from individual consumers to a central authority.” De Santis used the Space, hosted by Elon Musk and David Sacks, to announce his presidential nomination for the Republican Party. De Santis will now battle former president Donald Trump for the Republican nomination. De Santis says that CBDCs are about state control De Santis has claimed that the government could use CBDCs to track users’ activity and judge them accordingly. To illustrate his point, he used the example of environmental and social governance standards (ESG). These standards are used by socially-conscious investors to screen potential investments and, according to De Santis, the government may use them as a pretext to track spending and investments . ESG standards are designed in part to h...