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In a decisive move, North Carolina’s General Assembly has overridden Governor Roy Cooper’s veto to pass legislation banning the use of central bank digital currencies (CBDCs) within the state. House Bill 690 prohibits the use of CBDCs for state payments and prevents the state’s participation in Federal Reserve testing programs for digital currency.
The North Carolina Senate secured a 27-17 vote, achieving the supermajority needed to override the governor’s veto. This legislation reflects the state’s strong opposition to CBDCs, with lawmakers emphasizing concerns over privacy, personal freedom, and market competition. The bill’s passage is seen as a stand against the federal implementation of a digital currency.
Dan Spuller, head of industry affairs at the Blockchain Association, expressed support on social media platform X, stating: “This bill should have never been vetoed.” He added that Governor Cooper missed an opportunity to show North Carolina’s unified stance against CBDCs, which Spuller described as “widely unpopular.”
Support for the bill among Democrats had wavered, with some flipping their stance after the governor’s veto. North Carolina Senator Brad Overcash voiced frustration over the shift, stating, “Once they saw Roy Cooper veto the bill, they fell in line.” He emphasized that policymaking should not be swayed by party politics, but should instead focus on the best interests of the state.
Overcash further noted, “This is an opportunity for us to send a clear message that North Carolina, as the ninth largest state, does not support a federal central bank digital currency.”
With the veto overridden, North Carolina now stands as a state actively opposing the implementation of CBDCs.