North Carolina’s CBCC ban bill was rejected by the governor
North Carolina Gov. Roy Cooper has vetoed legislation that would have banned the implementation of a Federal Reserve-issued central bank digital currency, despite nearly unanimous support in the House and Senate.
Cooper — who has been accused of making politically motivated decisions — called House Bill 690 too “premature, vague and reactive” to sign into law in a June 5 statement.
“Efforts are underway at the federal level to ensure standards and safeguards are in place to protect consumers, investors and businesses. [using] Digital Assets and North Carolina should wait to see how it works before taking action.
Cooper's veto was passed by a 109-4 vote in the House and a 39-5 vote in the Senate in late June.
North Carolina lawmakers could easily override Cooper's veto with a three-fifths vote in both chambers.
Cooper's decision to resist was not well received.
“The veto from Governor Cooper was not representative of the interests of North Carolinians,” North Carolina native Mitchell Askew, chief analyst at Blockware Solutions, told Cointelegraph.
Askew Cooper said it's “shameful that he is unwilling to put aside partisan politics” to support legislation that benefits all North Carolinians.
“He vetoed it only because his opponent, Mark Robinson, supported the bill. It is clear who is a Bitcoin supporter and a candidate for freedom here.
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Similarly, Dan Spooler, head of industry affairs at the Blockchain Association, said Cooper's veto was a missed opportunity to send a loud and clear message that North Carolina strongly opposes CBDC.
“[Digital asset] Policy must remain in the hands of the American people, ensuring that any digital currency development reflects our values of privacy, individual sovereignty, and free market competitiveness.
That said, Federal Reserve Chairman Jerome Powell said in a March hearing before the Senate Banking Committee that the United States “is nowhere near recommending or advocating the adoption of a central bank digital currency in any way.”
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