«But my guess is that DeSantis’s being influenced by people who do in fact know what a digital currency might do and fear that it might make it more difficult to engage in such un-woke activities as tax evasion and money laundering. In that sense, DeSantis’s new crusade is a lot like the vote by House Republicans – one of their first legislative moves after taking control of the chamber – to rescind funding that would allow the I.R.S. to crack down on tax cheats.»

Krugman cited the demand for a cryptocurrency «whose tokens wouldn’t be pegged to the dollar – they would legally be dollars, and hence risk-free.» He says that demand is mostly driven «partly from people who honestly, rightly or wrongly, don’t trust banks, and partly from people engaged in illicit activities.»

Krugman says the first group would flock to a safe digital currency, «helping deflate the crypto bubble.» But it’s the bad guys whose DeSantis’ proposed ban would serve:

«DeSantis’ attack on central bank digital currency… wouldn’t protect the rights of Floridians to buy gas or guns; instead, it would protect the ability of wise guys to evade taxes, launder money, buy and sell illegal drugs, and engage in extortion.’

«But hey, I guess thinking that money laundering and extortion are bad things is just another example of the wokeness that DeSantis is trying to kill.»

ALSO IN THE NEWS: Republicans have been lying to their voters – and now those same voters are dying