- The bill banning CBDC was passed by overwhelming majorities in both houses of the Diet.
- The governor said the bill is premature and that North Carolina should bide its time.
- CBDCs have also faced opposition in the U.S. House of Representatives.
North Carolina Democratic Governor Roy Cooper has vetoed a bill that would have banned the state from introducing a central bank digital currency (CBDC) issued by the US Federal Reserve.
Both houses of the North Carolina General Assembly supported the bill by a majority of 109-4 in the House and 39-5 in the Senate. Crypto Times We were the first to report this incident.
Still, in rejecting the bill, Cooper said in a statement that “this bill is premature, vague and reactionary, and proposes finality for important financial decisions that have yet to be made.”
He added that “efforts are underway at the federal level to ensure standards and safeguards are in place to protect consumers, investors and businesses who want to transact financially in digital assets, and North Carolina should wait to see how that plays out before taking action.”
Dan Sparrer, senior director of industry affairs at the Blockchain Association in Washington, D.C., urged lawmakers to override the governor's veto.
“Digital asset policy must rest in the hands of the American people, and any development of digital currency must reflect our values of privacy, individual sovereignty, and free market competitiveness,” Spaher said. Post to X.
At the national level, the U.S. House of Representatives voted 216-192 in May to ban the creation of a CBDC without explicit congressional approval. DLNews Only three Democrats voted in favor of the bill.
Cryptocurrency advocates, primarily Republicans, have warned that CBDCs could lead to increased government oversight.
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The bill, called the “State CBDC Surveillance Prevention Act,” was sponsored by Tom Emmer, a Minnesota Republican and one of the crypto industry’s biggest congressional allies.
According to think tank Atlantic Council, three countries have already launched CBDCs – Nigeria, Jamaica, and the Bahamas – and 36 more are currently piloting CBDC projects.
