The North Carolina Senate overrides the Governor’s veto and passes the bill banning the use of a potential CBDC.
The North Carolina Senate has approved a bill that prohibits the state from implementing a CBDC issued by the Federal Reserve. This decision was made after the Senate successfully overturned a veto previously imposed by Governor Roy Cooper through a vote.
Details of the vote
On September 9, the Republican-led Senate passed House Bill 690 with a vote of 27-17. The vote narrowly exceeded the 60% majority required to override Cooper’s veto and turn the bill into law. Twelve Democratic senators who had previously supported the bill changed their stance to support Cooper’s veto.
Earlier, the North Carolina House of Representatives had voted to override Cooper’s veto in August with a result of 73-41.
Content of the bill
House Bill 690 prohibits the state of North Carolina from accepting payments in CBDCs and bans participation in future CBDC tests conducted “by any Federal Reserve branch.”
Governor Cooper had vetoed the bill on July 5, following a favorable vote in the House (109-4) and the Senate (39-5) a month earlier.
The ban in North Carolina could influence other jurisdictions to take similar stances regarding CBDCs.