North Carolina (NC) representative Neal Jackson introduced the North Carolina Digital Asset Freedom Act on April 10. The bill recommends that qualified “digital assets” will be accepted as a legal recognized form of payment and for taxes.
Although the language of Bill Bitcoin does not specifically mention (Btc), many provisions laid out that the BTC qualifies under the sense of the bill of a “digital asset.”
These stipulations include a minimum market capitalization of $ 750 billion and a day -to -day trading volume of over $ 10 billion, a market history of 10 years or more, proven resistance to censorship, Proof-of-work condensusLack of a central authority, 99.98% or more network uptime, and a maximum supply cap. The bill was read:
“The General Assembly further noted that decentralized digital assets, which are not governed by any central creature or foundation, are in line with the economic principles of limited, noninflationary currency and capable of ensuring the security and integrity of transactions.”
Jackson’s bill is the latest law led by the Bitcoin Strategic State Reserve in the United States amid inflation concerns, high -federal US debt and a collapse of money.
NC Digital Asset Freedom Act. Source: Legislature of north carolina
Related: North Carolina Bills will add crypto to state retirement system
North Carolina takes a steady bearing against CBDCs
Former North Carolina governor Roy Cooper vetoed a bill that prohibits a central digital currency (CBDC) In July 2024. At that time, Cooper Characterized The bill as “premature, unclear, and reactionary” in threats that are not yet materialized.
In August 2024, the North Carolina House of Representative Overrode Cooper’s Veto In a specific and bipartisan 73-41 vote.
North Carolina Senate followed Cooper’s overriding veto suit with a 27-17 vote and Anti-CBDC’s law was passed by law in September 2024.
North Carolina’s anti-CBDC law. Source: Legislature of north carolina
Dan Spuller, the head of industry activities in the Crypto advocacy Association The Blockchain Association, applauded the action taken by NC lawmakers to push back against CBDCs tide.
“This bill should not be that, and the governor Cooper exploded a chance to send a strong message to the Federal Reserve that the NC was standing against the CBDCs,” Spuller wrote in a Sept. 9 x Post.
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