Cryptocurrency
Governor of North Carolina Vetoes Bill Banning CBDCs
Monday. July 8 at 10:00 AM
1 min. readNorth Carolina Governor Roy Cooper has vetoed a bill that aimed to ban the introduction of central bank digital currencies (CBDCs) within the state. The bill, which had been unanimously passed by both chambers of North Carolina, was vetoed by Governor Cooper due to its vague and reactionary nature. He urged the legislature to focus on cybersecurity threats instead. Crypto stakeholders criticized the decision, highlighting CBDCs as potential tools for government surveillance and economic manipulation. The North Carolina Blockchain Initiative expressed disappointment over the veto. Despite the veto, experts suggest that the state's legislature could override it with a two-thirds majority vote. CBDCs, blockchain-based versions of government-issued currency, have gained global traction. In the US, opinions on CBDCs are divided along party lines, with Democrats supporting them and Republicans opposing. The Federal Reserve remains skeptical about launching a CBDC, stating that no decision has been made yet.