DeFi
North Carolina Governor Vetoes Bill to Ban CBDCs in State – DL News
- The bill to ban CBDCs passed overwhelmingly in both houses.
- The governor believes the bill is premature and that North Carolina should bide its time.
- CBDCs have also drawn opposition from the U.S. House of Representatives.
Democratic Governor Roy Cooper of North Carolina has vetoed a bill that would have banned the state from implementing a central bank digital currency (CBDC) issued by the U.S. Federal Reserve.
Both houses of the North Carolina General Assembly supported the bill, with a 109-4 majority in the House and a 39-5 majority in the Senate. Crypto Times was the first to report the story.
However, in addition to his veto of the bill, Cooper said in a statement“This legislation is premature, vague and reactionary and proposes an end result on important monetary decisions that have not even been made yet.”
He added that efforts were underway “at the federal level to ensure that standards and safeguards are in place to protect consumers, investors and businesses that may want to transact in digital assets and that North Carolina should wait and see how they work before acting.”
Dan Spullersenior director of industry affairs at the Blockchain Association in Washington DC, urged lawmakers to override the governor’s veto.
“Digital asset policy must remain in the hands of the American people, ensuring that any digital currency development reflects our values of privacy, individual sovereignty, and free market competitiveness,” Spuller said in a statement. publish on X.
At the national level, the U.S. House of Representatives voted 216 to 192 in May to prohibit the creation of a CBDC without explicit authorization from Congress, DL News reportedOnly three Democrats voted for the bill.
Crypto advocates, mostly Republicans, have warned that CBDCs could increase government surveillance.
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The bill, dubbed the CBDC Anti-Surveillance State Act, was sponsored by Tom Emmer, a Minnesota Republican and one of the crypto industry’s biggest allies in Congress.
Three countries have already spear According to the Atlantic Council think tank, CBDCs include Nigeria, Jamaica and the Bahamas. Thirty-six other countries are currently piloting CBDC projects.