General Assembly set to override digital currency veto

Bill would ban N.C. from accepting central bank digital currency (which does not yet exist)

The following article appeared in the July 31, 2024, edition of The Charlotte Ledger, an e-newsletter with smart and original local news for Charlotte. We offer free and paid subscription plans. More info here.

---

N.C. could be a leader in opposing federally backed digital currency; Crypto and banking industries hope for veto override

The N.C. House is scheduled to vote today to override Gov. Roy Cooper’s veto of a bill that would ban the state from doing business with any future digital currency backed by the federal government.

That might not sound like a pressing issue, given that the U.S. government is nowhere close to launching what’s called a central bank digital currency, or CBDC. But backers of the bill say it’s needed to help head off any such moves, and that it would position North Carolina as a leader in rejecting the idea.