North Carolina House Passes Bill Banning CBDC Payments to the State
The latest version of the legislation included limiting the Federal Reserve from using the U.S. state as a potential testing ground for its own CBDC pilot.
The House of Representatives for North Carolina has unanimously passed legislation aimed at prohibiting payments to the U.S. state using a central bank digital currency, or CBDC.
North Carolina lawmakers introduced the bill to the House in April, where it stayed in committee before readings and a full vote.
The legislation proposed amending statutes to require “no State agency nor the General Court of Justice” accept payments using CBDCs or participate in Fed testing of a digital dollar.
The legislative push against CBDCs seems to be becoming more politically relevant ahead of the 2024 elections in the United States.
In March, Florida Governor Ron DeSantis — expected by many to throw his hat into the ring for the U.S. presidential race — called for a CBDC ban in the country, claiming the technology was all about “surveilling Americans and controlling behavior of Americans.”
At the federal level, Representative Tom Emmer and Senator Ted Cruz have both introduced separate bills aimed at restricting the Fed’s authority over CBDCs or proposing an outright ban. Robert F. Kennedy Jr., another U.S. presidential hopeful, has claimed that CBDCs could “grease the slippery slope to financial slavery and political tyranny.”
Source: Coin Telegraph
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