{"id":322660,"date":"2023-05-04T11:15:08","date_gmt":"2023-05-04T10:15:08","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=322660"},"modified":"2026-10-25T14:22:07","modified_gmt":"2026-10-25T14:22:07","slug":"north-carolina-joins-florida-in-passing-anti-cbdc-legislation","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/north-carolina-joins-florida-in-passing-anti-cbdc-legislation\/","title":{"rendered":"North Carolina joins Florida in passing anti-CBDC legislation"},"content":{"rendered":"

North Carolina lawmakers have passed a bill to ban central bank digital currency (CBDC) payments and block the state from participating in testing \u2014 according to the co-founder of the Satoshi Action Fund, Dennis Porter<\/a>.<\/p>\n

CBDC controversy<\/h2>\n

Updates on the progress of the digital dollar appear to have dried up in favor of the FedNow instant payment service \u2014 scheduled to launch in July<\/a>.<\/p>\n

In March, former Coinbase CTO Balaji Srinivasan<\/a> implied that FedNow is the precursor to the coming digital dollar system.<\/p>\n

Proponents say CBDCs reduce the cost of running a currency system, reduce cross-border payment friction, and tackle counterfeiting to ensure a safer monetary system.<\/p>\n

Meanwhile, critics raise concerns about the infringement of personal privacy, centralization of power, and the potential for security breaches, as hackers may target a single point of attack.<\/p>\n

Considering the authoritarian response to the health crisis, others have further sounded the alarm on CBDCs being the cornerstone to a New World Order.<\/p>\n

During a recent Fox News appearance, former U.S. government official Catherine Fitts<\/a> launched a scathing attack on CBDCs \u2014 calling them a “financial transaction control grid.”<\/p>\n

She called on viewers not to fall for the propaganda that they are convenient and a necessary evolution of money:<\/p>\n

“We don\u2019t understand that when this gate closes on us, we will literally be sitting in a system where the central banks believe our assets belong to them\u2026”<\/p><\/blockquote>\n

Winning the war<\/h2>\n

Pointing out that the states of Florida and North Carolina have now passed anti-CBDC legislation, Porter<\/a> said, “We are winning.”<\/p>\n

On March 20, Florida Governor Ron Desantos<\/a> announced legislation to protect state residents from the “weaponization of the financial sector” via CBDCs. He said he would not side with central planners or adopt policies threatening economic freedom.<\/span><\/p>\n

“This proposal continues the strong track record of Governor DeSantis pushing back on an overreaching federal government<\/span>.”<\/p><\/blockquote>\n

Around the same time, Senator Ted Cruz introduced legislation to prohibit the development of a digital dollar on the grounds of it being used as “a financial surveillance tool.”<\/p>\n

In a press release<\/a>, Senator Cruz said the federal government has no authority to roll out a CBDC \u2014 adding that such a tool would stifle entrepreneurship, innovation, and freedom.<\/p>\n","protected":false},"excerpt":{"rendered":"

North Carolina lawmakers have passed a bill to ban central bank digital currency (CBDC) payments and block the state from participating in testing \u2014 according to the co-founder of the Satoshi Action Fund, Dennis Porter. CBDC controversy Updates on the progress of the digital dollar appear to have dried up in favor of the FedNow […]<\/p>\n","protected":false},"author":460,"featured_media":322670,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[76669,60793],"tags":[],"post_folder":[],"acf":[],"yoast_head":"\nNorth Carolina joins Florida in passing anti-CBDC legislation<\/title>\n<meta name=\"description\" content=\"Dennis Porter said 'We are winning' in response to the state of North Carolina passing bill blocking CBDC payments.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/north-carolina-joins-florida-in-passing-anti-cbdc-legislation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"North 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