Bill Summary for H 690 (2023-2024)
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View NCGA Bill Details | 2023-2024 Session |
AN ACT TO PROHIBIT PAYMENTS TO THE STATE USING CENTRAL BANK DIGITAL CURRENCY OR PARTICIPATION BY THE STATE IN FEDERAL RESERVE BRANCH TESTING OF CENTRAL BANK DIGITAL CURRENCY.Intro. by Warren, Brody.
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Bill summary
House committee substitute to the 2nd edition makes the following changes.
Revises new GS 147-86.19 as follows. Removes the term cryptocurrency and replaces it with central bank digital currency, defined as a digital currency, a digital medium of exchange, or a digital monetary unit of account issued by the US Federal Reserve System or a federal agency that is made directly available to a consumer by such entities. Specifies that the term includes a digital currency, a digital medium of exchange, or a digital monetary unit of account issued by the US Federal Reserve System or a federal agency that is processed or validated directly by such entities. Bars a state agency or the General Court of Justice from accepting a payment using central bank digital currency (was, using cryptocurrency). Adds a prohibition on a state agency or the General Court of Justice from participating in any test of central bank digital currency by any Federal Reserve branch. Adds a severability clause. Amends the act's titles.