North Carolina Senate enacts anti-CBDC bill, overturning governor’s veto
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The North Carolina Senate enacted an anti-CBDC bill, overturning the governor’s veto. The newly passed bill sought to prevent the state from participating in any CBDC testing. The Federal Reserve had assured stakeholders that rolling out the new central bank digital currency would be done within the permitted frameworks after getting approval. The North Carolina Senate voted to enact an anti-central bank digital currency (CBDC) bill on Monday, September 10th. The majority of votes in the North Carolina Senate supported the anti-CBDC action in a bid to safeguard the public from the risks they perceive the Federal Reserve’s testing of the new digital assets pose. North Carolina Senate impedes central bank digital currency testing NC House overrides governor’s veto on legislation prohibiting North Carolina from participating in the Federal Reserve branch’s testing of any future central bank digital currency (CBDC). #ncga #ncpolhttps://t.co/yMgWnUhOu0 — Carolina Journal (@CarolinaJournal) August 1, 2024 On Monday, the Senate voted on House Bill 690. The bill aimed to overturn the Democrat Gov. Roy Cooper’s veto, which would allow the state to participate in the Federal Reserve’s branch testing of its digital assets. Participation would allow the government to make payments to the state of North Carolina using the Central Bank Digital Currency. The senate vote concluded in a loss for the governor as senators voted 27-17 in favor of the House Bill 690. The House Bill 690 bill continued the anti-CBDC trend prevailing in the US after lawmakers passed the Central Bank Digital Currency Anti-Surveillance State Act in May. Gov. Roy Cooper had previously vetoed the House Bill 690 on Friday, July 5th. In his statement, Governor Cooper criticized the bill as being “premature, vague and reactionary” despite it having serious impacts on the monetary policies of the state. Cooper also stated that given that efforts were…
Filed under: News - @ September 10, 2024 2:26 pm