### Governor Cooper Vetoes North Carolina's House Bill 690: A Halt to CBDC Ban
Governor Roy Cooper of North Carolina has vetoed House Bill 690, which aimed to prohibit state payments using central bank digital currencies (CBDCs) and prevent the state's involvement in the Federal Reserve’s CBDC testing. Governor Cooper deemed the bill premature and stressed the importance of allocating more resources to cybersecurity.
In his veto statement, Governor Cooper remarked: "Federal efforts are underway to establish standards and safeguards to protect consumers, investors, and businesses interested in digital asset transactions. North Carolina should observe these developments before taking any action." He further explained:
"This legislation is premature, vague, and reactionary, proposing definitive outcomes on crucial monetary decisions that remain undecided. Rather than this bill, the legislature should have prioritized funding for current cybersecurity threats. Consequently, I veto the bill."
Dan Spuller, Head of Industry Affairs at the Blockchain Association, expressed disappointment with the veto, noting that HB 690 was a "widely supported, bipartisan" measure, which passed unanimously in the NC House last summer and decisively in the NC Senate last week. Spuller highlighted:
"By vetoing this bill, the governor missed a chance to clearly signal to the Federal Reserve that North Carolina opposes the creation of a CBDC. This veto needs to be overridden."
He emphasized that digital asset policy should be guided by the American populace, ensuring that any digital currency development upholds values of privacy, individual sovereignty, and free market competitiveness.
What are your thoughts on Governor Roy Cooper’s veto of House Bill 690 and the future of CBDCs in North Carolina? Share your opinions in the comments section below.