The state of North Carolina has taken an unprecedented move of passing the House Bill 690, a measure that would prohibit the use of central bank digital currencies (CBDC) for payments to the state or any participation by state in Federal Reserve branch testing of CBDC. The bill was unanimously accepted by the state's House of Representatives and is now set to be approved by the Senate. The revised version of the bill specifies digital currencies as a digital medium of exchange or a digital monetary unit of account issued by the US Federal Reserve System or a federal agency.

The main goal of the bill is to ensure that the state cannot be held sensitive to risks associated with forming a partnership with the Federal Reserve for any CBDC related testing. Moreover, it does not allow any state agencies or the General Court of Justice to accept payments made with CBDCs.

Dan Spuller, Director of Industry Affairs at the Blockchain Association, perceives this bill as a way to express his, and the broader community's, support for Bitcoin. He believes that due to the bill's simplicity and clarity it could serve as an example for other states, including Tennessee and Virginia.

The bill is seen as a significant accomplishment among the North Carolina House Representatives and is widely viewed as a milestone for North Carolina's legislature. Even though it awaits official approval in the Senate and then signing into law by the governor, the unanimous acceptance of the bill by the House of Representatives are good indications of its success.



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