The North Carolina House of Representatives has overturned Governor Roy Cooper’s veto of a bill banning the state from testing or accepting a US central bank digital currency （CBDC）. The bill now awaits a final decision from the state Senate.
Points
- North Carolina House overturns governor’s veto of a CBDC ban bill.
- The bill needs Senate approval to become law.
- The bill reflects Republican opposition to a US CBDC.
- Other states, including Utah and Florida, also oppose a US CBDC.
- Federal Reserve Chair Jerome Powell downplays immediate CBDC developments.
The North Carolina House of Representatives has overturned Democratic Governor Roy Cooper’s veto of a bill that would ban the state from testing or accepting a United States central bank digital currency （CBDC）. The bill now moves to the state Senate for a final decision.
The bill, passed by the state legislature with overwhelming bipartisan support on June 26, reflects strong Republican opposition to the introduction of a US CBDC. Governor Cooper vetoed the bill on July 5, calling the legislation “premature, vague, and reactionary,” and arguing that it addresses monetary decisions that have yet to be made.
State Representative Mary Belk, who opposed both the legislation and the veto override, stated that there is enough space in the digital economy for everyone and cautioned against limiting choices before understanding them fully.
North Carolina is not alone in its opposition to a US CBDC. Several other states, including Utah, South Carolina, South Dakota, Tennessee, Florida, and Louisiana, have also moved to block the introduction of a digital dollar.
Despite these state-level actions, Federal Reserve Chair Jerome Powell has downplayed immediate developments regarding a US CBDC. He reiterated that any introduction of a CBDC would require a Congressional mandate and stressed that nothing new is currently happening with regard to its development.
The US House of Representatives passed the CBDC Anti-Surveillance State Act in May, and a companion bill has been introduced in the Senate by Senator Ted Cruz. These legislative actions reflect ongoing debates about the implications of a digital dollar on privacy and financial surveillance.
解説
- The North Carolina House’s decision highlights significant state-level resistance to the idea of a US CBDC.
- Governor Cooper’s veto and subsequent override reflect the contentious nature of digital currency discussions.
- The broader movement against CBDCs in multiple states indicates widespread concern about federal control over digital currencies
and their potential implications on privacy and state autonomy.
– Federal Reserve Chair Jerome Powell’s comments suggest that while research and discussion on CBDCs continue, their implementation is not imminent.
– The legislative efforts at both state and federal levels underscore the importance of balancing innovation in digital finance with concerns over privacy and surveillance.