The state of North Carolina passes a law to limit the use of CBDCs: now the decision is up to the Governor.
On June 26, the General Assembly of North Carolina passed a law aimed at limiting the use of a CBDC issued by the Federal Reserve. The bill received broad support, passing with 109 votes in favor and 4 against in the House, and with 39 votes in favor and 5 against in the Senate. The proposal is now awaiting approval from Governor Roy Cooper.
If approved, the law will immediately prohibit state agencies and courts from accepting payments in CBDC. Additionally, it will restrict these entities’ participation in any CBDC tests conducted by the Federal Reserve. This move mirrors recent legislative actions in the state of Louisiana.
Given the support the bill has received, a potential veto by Governor Cooper could be overridden. The bill passed with a majority of over three-fifths in both legislative chambers.
In recent months, several U.S. senators, including Republican Representative from Minnesota Tom Emmer, have been seeking to ban the introduction of a CBDC by the Federal Reserve.
