North Carolina’s General Assembly overrides Governor Roy Cooper’s veto, passing a bill prohibiting the use of a central bank digital currency (CBDC) and state involvement in Federal Reserve testing.
Bollywood Fever: The North Carolina General Assembly has successfully overridden Governor Roy Cooper’s veto to enact House Bill 690, a law prohibiting the use of central bank digital currency (CBDC) within the state.
In a 27-17 vote, the Senate secured the required three-fifths supermajority, blocking payments with CBDCs and barring the state’s participation in any Federal Reserve testing programs related to the digital currency.
The bill reflects strong opposition to the implementation of a CBDC, citing concerns over privacy, individual sovereignty, and market competition.
Dan Spuller, head of industry affairs at the Blockchain Association, voiced his support on X (formerly Twitter), stating that the veto was a missed opportunity to unite the state against the federal push for digital currency.
North Carolina Senator Brad Overcash also weighed in, criticizing Democrats for changing their stance after Governor Cooper’s veto, and emphasizing the need for policy decisions that reflect the state’s interests, not party politics. “It’s an opportunity for us to send the signal that North Carolina, the ninth-largest state in the union, is not interested in a federal central bank digital currency,” Overcash remarked.
The bill’s passage underscores North Carolina’s clear stance against the adoption of CBDCs and positions the state at the forefront of this controversial national debate.
Also Read other news articles, UBS Report: European Real Estate Markets Poised for New Investment Cycle
Japan’s GDP Growth Revised to 2.9% in Q2 Amid Lower Corporate and Personal Spending
Bitcoin Hashrate Reaches New All-Time High Amid Declining Mining Profits
Boeing Reaches Tentative Deal with Union, Averting Potential Strike
Ripple Extends Partnership with NYU Abu Dhabi, Investing Over $1 Million in Blockchain Research
