North Carolina’s House of Representatives unanimously voted in favor of a bill banning the acceptance of Central Bank Digital Currencies (CBDCs) by government entities.
The legislation follows a wave of vocal opposition to CBDCs from the Republican party, alongside some critics from the Democrat side.
North Carolina Rejects CBDCs
The vote on May 3 saw 118 House members agreeing to pass House Bill 690, while just two members abstained from the vote, and none voted against it.
Alongside the acceptance ban, the bill would also prohibit the state from participating in Federal Reserve branch testing of a potential CBDC.
The bill was initially proposed to the House in April titled “AN ACT TO PROHIBIT PAYMENTS IN CRYPTOCURRENCY TO THE STATE,” but was modified on May 2 to substitute the word “cryptocurrency” with “central bank digital currency.” The latter is defined as “a digital currency, a digital medium of exchange, or a digital monetary unit of account issued by th
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