The North Carolina General Assembly has passed a bill restricting the state's adoption of central bank digital currencies (CBDC), overriding Governor Roy Cooper’s veto.
Close Vote in the Senate
On September 9, the Republican-led North Carolina Senate secured the 60% majority required to overturn Governor Cooper’s veto with a 27–17 vote. The bill had already passed in the House of Representatives in early August with a 73–41 vote, officially becoming law with the Senate’s decision.
Governor's Position
Additionally, 12 Democratic senators who had earlier supported the bill changed their stance, aligning with the Governor’s veto. Governor Cooper, a Democrat, vetoed the bill in July, raising concerns that it was...
Future of CBDC
Federal Reserve research on CBDCs continues, but adoption remains distant without congressional approval.
The bill's passage marks a close political contest and highlights the ongoing debate among policymakers regarding CBDCs. States continue to deliberate the role of federal innovations in their economies.
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