Florida Governor Ron DeSantis signed a bill into law on Tuesday making Florida the largest state to require financial literacy and Bitcoin education for high school graduation.
The bill was unanimously enacted by the state House and Senate in early March.
“What the bill is doing with financial literacy is really providing a foundation for students that’s going to be applicable in their lives regardless of what path they take,” said DeSantis. “This will provide a foundation for the students to learn the basics of money management, understanding debt, understanding how to balance a checkbook, understanding the fundamentals of investing.”
The new rule will go into effect with ninth-graders in 2023-2024 meaning they will have to complete a half-credit personal finance course before graduation.
“Whether our students choose to go to one of our great colleges or universities, do a trade or apprenticeship program, a career in the arts or the military, every student deserves to be equipped with the education and knowledge to succeed financially in our society,” Rep. Demi Busatta Cabrera, a sponsor of the bill said.
Where Does Bitcoin Come into Play
Many see this as a major step forward in helping America’s youth develop better understanding of money.
Shortly after signing the law, the governor said that Bitcoin and digital money would be taught. Then he explained how his administration is already looking into accepting Bitcoin as payment for public services and maybe tax payments.
DeSantis also went on to promote Bitcoin and speak out against centrally controlled surveillance tools such as CBDC’s.
Many in the Bitcoin world are excited by DeSantis’ remarks, including accepting Bitcoin for taxes believing these events might have big implications for Bitcoin.
Gov. DeSantis advocated the ‘Freedom First’ budget for the 2022 legislative season.
Around $700k was budgeted to promote Bitcoin inside the state administration. This included $200k for the Department of Financial Services to allow Florida firms to pay state fees directly to the Department of State using “crypto”.
Miami Already Bullish Hub for Bitcoin
In 2021, Mayor Francis Suarez, a major supporter of Bitcoin, pledged to expand its use for the city’s benefit. He declared that residents may pay for services using Bitcoin and was looking into utilizing Bitcoin to preserve the city’s funds against inflation.
The governor encouraging financial education for Florida’s high school students, not to mention teaching youngsters about Bitcoin, will greatly benefit Florida students as we approach a new era of money.