Vote Smart's Synopsis:

Vote to override the Governor's veto and pass a bill that prohibits state agencies from using cryptocurrency as payments in North Carolina.

Highlights:

• Prohibits central bank digital currency payments (Sec. 2). 

• Defines central bank digital currency as a digital medium of exchange or a digital monetary unit of account issued by the United States Federal Reserve System or a federal agency that is made directly available to a consumer by such entities (Sec. 2.1).

• Specifies the term includes a digital currency, a digital medium of exchange, or a digital monetary unit of account issued by the United States Federal Reserve System or a federal agency that is processed or validated directly by such entities (Sec. 2.1).

• Defines General Court of Justice to include any agency, institution, burau, board, commision, or officer of the general court of justice as defined in Article IV of the North Carolina Constitution (Sec. 2.2). 

• Defines state agency as including any institution, bureau, board, commission, officer, or political subdivision of the state (Sec. 2.3). 

• Prohibits any state agency or the general court of justice to accept a payment using central bank digital currency (Sec. 2B). 

• Prohibits any state agency or the general court of justice to participate in any test of central bank digital currency by any Federal Reserve branch (Sec. 2C). 

Full Bill Text

Vote Smart's Synopsis:

Vote to override the Governor's veto and pass a bill that prohibits state agencies from using cryptocurrency as payments in North Carolina.

Highlights:

• Prohibits central bank digital currency payments (Sec. 2). 

• Defines central bank digital currency as a digital medium of exchange or a digital monetary unit of account issued by the United States Federal Reserve System or a federal agency that is made directly available to a consumer by such entities (Sec. 2.1).

• Specifies the term includes a digital currency, a digital medium of exchange, or a digital monetary unit of account issued by the United States Federal Reserve System or a federal agency that is processed or validated directly by such entities (Sec. 2.1).

• Defines General Court of Justice to include any agency, institution, burau, board, commision, or officer of the general court of justice as defined in Article IV of the North Carolina Constitution (Sec. 2.2). 

• Defines state agency as including any institution, bureau, board, commission, officer, or political subdivision of the state (Sec. 2.3). 

• Prohibits any state agency or the general court of justice to accept a payment using central bank digital currency (Sec. 2B). 

• Prohibits any state agency or the general court of justice to participate in any test of central bank digital currency by any Federal Reserve branch (Sec. 2C). 

Full Bill Text

Vetoed by Governor Roy Cooper III

Vote Smart's Synopsis:

Vote to amend and pass a bill that prohibits state agencies from using cryptocurrency as payments in North Carolina.

Highlights:

• Prohibits central bank digital currency payments (Sec. 2). 

• Defines central bank digital currency as a digital medium of exchange or a digital monetary unit of account issued by the United States Federal Reserve System or a federal agency that is made directly available to a consumer by such entities (Sec. 2.1).

• Specifies the term includes a digital currency, a digital medium of exchange, or a digital monetary unit of account issued by the United States Federal Reserve System or a federal agency that is processed or validated directly by such entities (Sec. 2.1).

• Defines General Court of Justice to include any agency, institution, burau, board, commision, or officer of the general court of justice as defined in Article IV of the North Carolina Constitution (Sec. 2.2). 

• Defines state agency as including any institution, bureau, board, commission, officer, or political subdivision of the state (Sec. 2.3). 

• Prohibits any state agency or the general court of justice to accept a payment using central bank digital currency (Sec. 2B). 

• Prohibits any state agency or the general court of justice to participate in any test of central bank digital currency by any Federal Reserve branch (Sec. 2C). 

Full Bill Text