Share this article
Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menu
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars
North Carolina House Unanimously Votes to Ban Digital Dollar Payments to the State
The House of Representatives of the U.S. state voted 118-0 to pass an amended version of a bill that initially sought to ban crypto payments.
North Carolina's House of Representatives on Wednesday unanimously passed a bill prohibiting the state's agencies and institutions from accepting payments in central bank digital currencies (CBDC).
Representatives voted 118-0 (with two excused absences) in favor of the bill, in its second reading, that would prevent the state's court system or any agencies tied to the state from accepting a Federal Reserve-issued digital dollar. The bill also bans the state from participating in any pilot tests CBDCs.
STORY CONTINUES BELOW
While the U.S. Treasury Department has said leaders are evaluating the issuance of a digital dollar, countries including China have already run pilots, and the European Union is nearing the end of a two-year experiment into a digital euro.
But U.S. lawmakers are increasingly opposing the issuance of a digital dollar, with Florida Gov. Ron DeSantis proposing similar legislation to ban CBDC payments in his state. Crypto ally, and Majority Whip in the House of Representatives Tom Emmer (R-Minn.) has said CBDCs could be weaponized as a political tool.
The North Carolina bill was, in fact, introduced in early April under the title "No Cryptocurrency Payments to State," and was changed to focus on digital currencies issued by the U.S. Federal Reserve in an edition filed on Tuesday.
The bill is sponsored by North Carolina Representatives Harry Warren and Mark Brody.
Read more: Senior U.S. House Republican Says CBDCs Could Be ‘Weaponized’ as Political Tool
Sandali Handagama
Sandali Handagama is CoinDesk's deputy managing editor for policy and regulations, EMEA. She is an alumna of Columbia University's graduate school of journalism and has contributed to a variety of publications including The Guardian, Bloomberg, The Nation and Popular Science. Sandali doesn't own any crypto and she tweets as @iamsandali
More For You
Crypto Industry Asks President Trump to Stop JPMorgan’s 'Punitive Tax' on Data Access
A coalition of fintech and crypto trade groups is urging the White House to defend open banking and stop JPMorgan from charging fees to access customer data.
What to know:
- Ten major fintech and crypto trade associations have urged President Trump to stop big banks from imposing fees that could hinder innovation and competition.
- JPMorgan's plan to charge for access to consumer banking data may debank millions and threaten the adoption of stablecoins and self-custody wallets.
- The CFPB's open banking rule, which mandates free consumer access to bank data, is under threat as banks have sued to block it, and the CFPB has requested its vacatur.
