This week has seen votes in favor of two state bills from Florida and North Carolina that aim to restrict the use of a federal digital dollar or central bank digital currency (CBDC). The Florida approach is more far reaching, changing the legal definition of money to exclude a CBDC.
The North Carolina bill received a unanimous vote from the State House and has been sent to the Senate. But the surprise is that a previous iteration of the bill from just days ago was targeting banning the use of cryptocurrencies for payments, not CBDC.
The version from 27 April states, “No State agency nor the General Court of Justice shall accept a payment using cryptocurrency.” In contrast, the 2 May wording that received the vote states, “No State agency nor the General Court of Justice shall accept a payment using central bank digital currency” and “No State Agency nor the General Court of Justice shall participate in any test of central bank digital currency by any Federal Reserve branch.”
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.
