Banking Crises Is Here | North Carolina Follows Florida's CBDC Ban

Desantis Signs Anti-CBDC Bill Into Law "No Authoritarian Money In Florida."

DeSantis also saw the potential introduction of a CBDC as a threat to cryptocurrency: “I think they want to crowd out and eliminate other types of digital assets like cryptocurrency because they can’t control that, so they don’t like that.”

The bill the governor signed introduced changes to the state’s current commercial code. “You started to have a movement among the states to actually add CBDC to their Uniform Commercial Codes, and this is something that was pushed by a lot of powers that be to do that,” he said, in an apparent reference to the proposed Article 12 of the UCC now before state legislatures. DeSantis added:

BITCOIN MIAMI IS HERE!!!

Bitcoin 2023, the world's largest Bitcoin event, is returning to Miami from May 18 to 20, offering attendees three days with the brightest minds in Bitcoin. Across historic on-stage content, unique activations and unforgettable moments, thousands of Bitcoiners will come together to celebrate the culture behind this technology and propel the revolution it has introduced.

In years past, the Bitcoin Conference Series has produced some of the defining moments of Bitcoin history, from El Salvador President Nayib Bukele announcing his country would adopt bitcoin as legal tender to privacy advocate Edward Snowden outlining how Bitcoin will play a role in securing our freedom into the future.

CBDC Becoming Presidential Talking Point

But in addition to making the U.S. an epicenter for Bitcoin innovation, having a Bitcoiner like Suarez as president will, critically, stop the emergence of a central bank digital currency (CBDC) in America dead in its tracks. If Biden or Trump is elected, it is almost certain that some form of CBDC will be activated in America. With the deployment of a CBDC, you can kiss your financial freedom goodbye. You can kiss your privacy goodbye.

You will no longer have autonomy over what you can eat or how far you can travel. You will have a social credit score, as has been implemented in China. Is this the type of life that you want? We have to strive for a better life.

Twitter Spotlight

Getting my crypto off a ledger ASAP, this is unacceptable for the #crypto community. 🚨NOT YOUR KEYS NOT YOUR CRYPTO— Joshua Jake (@itzjoshuajake) 4:59 PM • May 16, 2023

Yes - THIS 🙌— Amy_LivesCrypto🔥 (@amy_livescrypto) 9:57 PM • May 13, 2023

Great work by the FBBA

Analytical Data

There isn't a part of forward rates that aren't absolutely certain and haven't gotten more certain rates are going lower and soon enough regardless of whether Jay Powell/FOMC agrees. They never agree yet it happens anyway. Pay attention to forward rates.

We've got the near term forward spread, SOFR futures, even forward Treasury rates (the "hences"). All of those at absolute extremes. They've gotten so much worse since March and had already been way beyond 2007, too.

This is so much worse a development than recession. When NTFS inverted by 200 bps or more back in the early 80s, that was when nominal rates were way up in double digits. We've got forward rates way below the current ones that are historically low.

In The Know

EU’s Crypto Legal Framework Inches Towards Law With Finance Ministers’ Sign-Off
The landmark Markets in Crypto Assets regulation was given final approval by the EU’s Council, which also agreed a new law for sharing data on crypto tax holdings.
coindesk.com

DigiBuild raises $1.3M seed extension, inks partnership deals with major construction companies - Refresh Miami
Refresh Miami is the #1 provider of local technology news in Miami. Refresh has been supporting and growing the #MiamiTech ecosystem since 2006 with 15,000+
refreshmiami.com

Florida Gov. DeSantis declares war on CBDCs
Florida Gov. Ron DeSantis signed a law last week barring the use of a central bank digital currency within the state.
axios.com

Events

Click here for events & meetups inMay 2023

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Crypto News Heard Around the State

Tampa News

We're excited to announce that we're launching the @StPeteFL chapter of Bitcoin Bay! Come join us tomorrow at 7pm @getawaytampabay and RSVP at meetup.com/tampa-bay-bitc…— Bitcoin Bay (@bitcoinbaytpa) 3:02 PM • May 10, 2023

Orlando News

COMING SOON Get Ready #ORLMetaCenter@SynapseFL@ImmerseSummit@thevrara— Orlando Tech Community (@ORLTechCom) 6:41 PM • May 10, 2023

Jacksonville News

HUGE JAX ELECTION UPDATERepublicans 🔴 have surpassed Democrats 🔵 in turnout.Now we spend the rest of the day (7hrs) piling on with Republican turnout!GO VOTE JAX!!!

Miami News

BIG DECISIONS AHEAD…👇👇👇👇Miami’s mayor mulls a White House run via @politico— Mayor Francis Suarez (@FrancisSuarez) 7:49 PM • May 12, 2023

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