Florida signs bill recognizing gold and silver as legal tender

On Tuesday local time, Florida Governor Ron DeSantis signed legislation recognizing gold and silver as legal tender in the state, a move he said was intended to protect Floridians from the devaluation of the dollar. The legislation establishes a legal framework that recognizes certain gold and silver coins as legal tender in Florida, exempts them from sales tax, regulates their custodians, and allows for the arbitrary use of gold and silver coins in transactions (subject to legislative approval to implement rules). DeSantis said the bill empowers payment institutions such as check cashing or PayPal and accepts payments for gold and silver. "This means that these precious metals can once again start to function like real money, not just an investment vehicle for the wealthy," DeSantis noted. Mr. DeSantis also criticised the US federal government's spending behaviour, likening DOGE and Mr. Musk's woes to "fighting the swamp". "It's the end of May and Congress hasn't implemented a penny of DOGE [budget] cuts! DOGE fought the swamp and so far the swamp has won," Mr. DeSantis said.