The House of Representatives in North Carolina has passed a bill that prohibits the use of central bank digital currencies (CBDCs) for payments to the state. The bill, known as House Bill 690, received unanimous support from the legislative body in a May 3 vote. The latest version of the legislation includes a provision that would restrict the Federal Reserve from using North Carolina as a testing ground for its own CBDC pilot.
The bill will now move to the Senate for consideration before it can become law or be vetoed by Governor Roy Cooper. The move is part of a growing trend of political opposition to CBDCs ahead of the 2024 US presidential elections. Florida Governor Ron DeSantis and US lawmakers Tom Emmer and Ted Cruz have also proposed bans or restrictions on CBDCs.
