In a decisive move, the **North Carolina Senate** has cast a majority vote in favor of a bill that would effectively **outlaw central bank digital currencies (CBDCs)** within the state. The bill is now awaiting the **Governor’s signature** to become law.
Should the Governor ratify the bill, North Carolina would be precluded from participating in any **Federal Reserve** experiments concerning future CBDCs. Additionally, the legislation would prevent state agencies and judicial bodies from conducting transactions in CBDCs.
The **Carolina Journal** reports that **Bill 690** garnered a commanding **109-4** approval in the Senate on Wednesday, a significant increase from Tuesday’s **39-5** vote.
State Senator **Brad Overcash** has articulated that the bill’s objective is to deter the federal government from advancing its CBDC initiatives, which he believes could undermine the **US dollar’s** position as a leading global currency. Overcash emphasized that the bill conveys North Carolina’s disinterest in adopting a CBDC, stating, “This would prohibit our state entities and judiciary from recognizing a central bank digital currency, and from engaging in any pilot projects that might be launched by the Federal Reserve Banks.”
Senator Overcash further described the bill as a critical measure to maintain the **integrity of the US financial system**.
The stance against federally-issued CBDCs is not unique to North Carolina. The ‘**CBDC Anti-Surveillance State Act**,’ introduced by **Majority Whip Tom Emmer** in May, aimed to halt the US central bank’s progress in creating a digital dollar, citing concerns over potential governmental control over American citizens.
**Federal Reserve Chairman Jerome Powell** acknowledged in a **Senate Banking Committee** hearing in March that the United States is “nowhere near” implementing a CBDC.
Echoing North Carolina’s sentiments, **Florida** and its Governor **Ron DeSantis** have also expressed strong opposition to CBDCs, with DeSantis signing legislation last year that bans the use of CBDCs in the state.
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