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Florida CFO Launches Study on Gold and Silver as Legal Tender

Florida Chief Financial Officer (CFO) Jimmy Patronis has launched a study to explore the use of gold and silver bullion as legal tender in Florida. Currently, while gold and silver can be purchased as investments, they cannot be used directly to buy goods or services. The proposed initiative would potentially allow gold and silver to serve as an alternative to the U.S. dollar, providing a hedge against inflation and financial instability, including threats posed by Central Bank Digital Currencies. The study will also explore changes to state regulations and ensure that transactions involving bullion are tax-exempt.