The U.S. state of North Carolina’s General Assembly has recently given its approval to a bill that bars the state from taking part in the Federal’s trials of a central bank digital currency (CBDC). The General Assembly, composed the House of Representatives and the Senate, saw significant support for this bill with a vote 109-4 in the House and 39-5 in the Senate. Described by a Senate committee “House Bill 690,” it prevents any State agency or the General Court of Justice from accepting payment via CBDC engaging in CBDC testing conducted by any Federal Reserve branch. The bill now awaits approval the governor. State Senator Brad Overcash stated that this legislation aims to discourage further federal efforts towards developing a CBDC.
