Krugman takes aim at DeSantis for his anti-CBDC stance: ‘Elon Musk and…’

Krugman takes aim at DeSantis for his anti-CBDC stance: ‘Elon Musk and…’

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This week the governor of Florida Ron DeSantis officially announced that he is running in the Republican presidential primary. The The announcement came during a Twitter Spaces conversation with the owner of the social media platform Elon Musk.

What happened: Well-known economist and Nobel Prize winner Paul Krugman On Friday, DeSantis criticized its stance against a central bank digital currency, or CBDC.

“To be honest, I thought that while Ron DeSantis’ attacks on central bank digital currencies were instructive, they wouldn’t leave much of a message — not exactly a topic for people in the restaurant,” Krugman said tweeted on Friday.

Florida was the first state to ban CBDC, and while he was on Twitter Spaces with Musk this week, DeSantis repeated his tirade against the idea of ​​even having one in the US: “You have to get congressional approval,” he said via a CBDC. “I can tell you If I am President, we will not launch a central bank digital currency.”

Krugman pointed out that DeSantis is fixated on its opposition to CBDC, a central bank-backed blockchain stablecoin. That could be because “Elon Musk and the crypto guys may be the only base he has left,” he tweeted.

Still, the governor is a proponent of cryptocurrencies, such as Bitcoin BTC/USD. Bitcoin is a civil liberties issue, DeSantis said, while expressing support for the potential of digital assets and the freedom they can offer users.

See also: What is a central bank digital currency?

Cryptos useless? The economist also drew a parallel between DeSantis’ stance on CBDC and the supportive stance Sen. Rick Santorum (R-PA) Shown to the weather forecaster AccuWeather when trying to block public access to the National Weather Service.

Krugman also made a cheeky remark about cryptocurrencies, implying that they are useless. “Of course, private weather services provide a useful service. Cryptocurrencies… not so much,” he tweeted.

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