RALEIGH, N.C.—The North Carolina General Assembly has passed a bill that prohibits the state from participating in Federal Reserve branch testing of central bank digital currencies (CBDCs) and bans payments using CBDCs.
The state’s Senate voted 27-17 to override Democrat Governor Roy Cooper’s veto of House Bill 690.
Cooper had earlier vetoed the bill, arguing that it was “premature, vague, and reactionary,” ICOdesk reported.
“According to Cooper’s statement made in July, his proposal was for North Carolina to overlook the issue until, at the federal level, the rules, and standards are developed and to be ratified,” the report continued. “He underscored his point by saying that the projects were being done to secure individuals, investors, and businesses which joined in digital assets.”
Governor Criticized
ICODesk reported that Dan Spuller, head of industry affairs at the Blockchain Association, criticized Cooper’s decision. Spuller argued that the bill “should have never been vetoed” and that Cooper missed an opportunity to send a strong message to the Federal Reserve about North Carolina’s stance against CBDCs, ICOdesk said.