North Carolina House of Representatives Passes Bill That Would Ban State From Using and Participating in CBDC Testing
Members of North Carolina’s House of Representatives unanimously passed a new bill on central bank digital currency (CBDC) showing the state’s strong opposition to the issuance and use of a US digital dollar.
On Wednesday, representatives voted 118-0 with two absentees in favor of the amended version of HB 690.
The bill seeks to prohibit the state’s agencies and courts from using a digital dollar as well as ban North Carolina from participating in CBDC pilot tests.
The proposed legislation, which was introduced in April, now goes under the title “No Central Bank Digital Currency Payments to State” following the amendment to its title.
“Bars a state agency or the General Court of Justice from accepting a payment using central bank digital currency (was, using cryptocurrency). Adds a prohibition on a state agency or the General Court of Justice from participating in any test of central bank digital currency by any Federal Reserve branch. Adds a severability clause. Amends the act’s titles.”
Blockchain Association Head of Industry Affairs Dan Spullers says the bill is now referred to the state senate.
“BREAKING: North Carolina House Unanimously Passes HB690: Banning Payments in CBDC’s & Prohibiting NC Participation in Any CBDC Testing.”
The development comes as the US explores the idea of adopting a CBDC.
Florida also expressed plans to resist the adoption of a Federal Reserve-issued digital dollar as Governor Ron DeSantis vows to prohibit the use of CBDC in Florida.
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Author: Rhodilee Jean Dolor
