Last year a small number of States took steps to oppose the introduction of a central bank digital currency (CBDC) or digital dollar. Between April and June, three states passed legislation: Indiana, Florida and Alabama. In the last two months, that trickle has turned into a flood. No fewer than ten additional states have proposed bills. Yesterday the South Dakota Senate approved an anti-CBDC Bill, but it has yet to pass the House.
Many of the worries about CBDC focus on privacy issues, even though some believe that privacy concerns are already compromised due to existing anti-money laundering (AML) regulations.
Most states are taking steps along three legal fronts. Some are preventing the state from accepting a CBDC as payment. Many additionally block participation in CBDC trials.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
