North Carolina Governor Vetoes Bill That Would Have Banned a US CBDC in the State - The Daily Hodl

North Carolina Governor Vetoes Bill That Would Have Banned a US CBDC in the State – The Daily Hodl

Source Node: 2632908

North Carolina Governor Roy Cooper has declined to sign a bill that opposes the issuance and use of a Federal Reserve-backed digital currency in the state.

Last week, Cooper, a Democrat, vetoed a bill titled “No Central Bank Digital Currency Payments to State” (HB 690), saying that it’s too early to ban the use of central bank digital currency (CBDC) in North Carolina.

“Efforts are being made at the federal level to ensure standards and safeguards are in place to protect consumers, investors and businesses that may want to make monetary transactions in digital assets and North Carolina should wait to see how they work before taking action. 

This legislation is premature, vague and reactionary and proposes an end result on important monetary decisions that haven’t even been made yet. Instead of this bill, the legislature should have passed a budget to provide more funding for cybersecurity threats that actually exist now.”

In May, members of North Carolina’s House of Representatives unanimously passed the bill with a 118-0 vote with two absentees in favor of the amended version of HB 690. North Carolina’s Senate passed the bill on June 25th.

If it had been approved, the bill would have prohibited the state’s agencies and courts from using a digital dollar and participating in CBDC pilot tests.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Time Stamp:

More from The Daily Hodl