On May XNUMX, North Carolina Governor Roy Cooper vetoed a bill that would prohibit the state from accepting payments in the future for the central bank digital currency (CBDC) issued by the Federal Reserve.
House Bill XNUMX also aims to prevent North Carolina from participating in any CBDC pilot programs that will be conducted by the Federal Reserve.
In his statement regarding his decision, Cooper stated that at the federal level, there is still work being done to create protective networks and guidelines for any future CBDC projects. The governor stated that vetoing this bill is important because it allows people to decide whether they want to use CBDC as currency or not.
In contrast, Cooper proposed that North Carolina wait until it learns much more about how CBDC functions before implementing such a permanent ban. He found fault in the bill itself, describing it as “hasty, ambiguous, and reactionary” as it deals with a question that does not have a clear solution.
Read more:
Germany Sells Another 500 Bitcoins Valued at $280,000
He further suggested that efforts to enact the legislation be abandoned and instead focus on investing funds to address current cyber threats.
However, his actions faced significant opposition, particularly considering the fact that the bill had garnered immense support in both chambers of the State Assembly.
