North Carolina Governor Roy Cooper has vetoed a bill aimed at preventing the introduction of central bank digital currencies (CBDCs) in the state. The bill, passed unanimously by both legislative chambers, aimed to prevent CBDCs issued by the US Federal Reserve from being implemented in North Carolina.
Cooper criticized the bill as vague and reactionary, arguing it did not address immediate threats and urged lawmakers to focus on passing a budget to address cybersecurity issues.
Crypto supporters criticized the veto, calling CBDCs tools for government surveillance and economic control. The North Carolina Blockchain Initiative expressed disappointment.
Experts suggest that the legislature might override the veto with a two-thirds majority in both chambers. CBDCs are digital versions of government currency designed to speed up transactions, and opinions split along party lines in the US.
The Federal Reserve remains cautious about CBDCs, noting that legal authorization would be needed. Governor Cooper’s veto highlights the complexities of regulating new technologies like CBDCs, as states try to balance innovation with protection.
