- North Carolina Senate Blocks Digital Currency Testing
- Federal Reserve Maintains Stance on Digital Currencies
- Industry Reactions and Opinions
The North Carolina Senate voted on Monday, September 10th, to pass an anti-central bank digital currency (CBDC) bill, overriding Governor Roy Cooper's veto.
North Carolina Senate Blocks Digital Currency Testing
The North Carolina Senate voted to pass a bill aimed at preventing the state from participating in any central bank digital currency (CBDC) testing. The majority of votes in the North Carolina Senate supported this action to safeguard the public from perceived risks associated with the Federal Reserve's testing of new digital assets.
Federal Reserve Maintains Stance on Digital Currencies
The bill passed by the Senate follows the trend of anti-CBDC legislation in the US, which began with the passing of the Central Bank Digital Currency Anti-Surveillance State Act in May. The Federal Reserve previously stated that it had not made a final decision on pursuing the use of a CBDC but had considered the idea as evidenced by its report on the pros and cons of CBDCs.
Industry Reactions and Opinions
The decision by the North Carolina Senate was supported by several industry figures who stated that the Federal Reserve should develop digital currencies in a manner that aligns with the law while protecting users' rights.
The passing of the bill in the North Carolina Senate raises questions about the state's involvement in Federal Reserve digital currency testing initiatives and reflects broader trends in digital asset regulation in the US.
