. While many nations are researching CBDCs, aside from China, only the Bahamas sand dollar and the Bank of Jamaica’s JAM-DEX are deployed.
Florida not recognizing CBDCs as money will likely put the state on a warpath with the feds. If a state were to refuse to recognize a specific type of money that has been authorized by the federal government, it could potentially face a lawsuit for interfering with the federal government's constitutional power to regulate this — which it has a monopoly on.
CBDCs potentially undermine the autonomy of state-chartered banks and allow the federal government to encroach on state-level rights and regulations, Armes argues, pointing to Caitlin Long and, as an example of federal encroachment into the rights of states to charter financial institutions.
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