The representative of North Carolina (NC), Neal Jackson, presented on April 10 at North Carolina Asset Freedom Act. The bill proposes that qualified “digital assets” be accepted as a legally recognized form of payment and for taxes.
Although the language of the bill does not specifically mention Bitcoin (BTC), several provisions are presented which make BTC with a single qualification under the definition of the bill of a “digital asset”.
These stipulations include a minimum market capitalization of $ 750 billion and a daily negotiation volume of more than $ 10 billion, a market history of 10 years or more, resistance to proven censorship, a consensus of evidence of work, a lack of central authority, 99.98% or more of the increase in the network and a maximum supply ceiling. The bill read:
“The General Assembly also notes that decentralized digital assets, which are not governed by an entity or a central foundation, align with the economic principles of limited and non -inflationary money and are capable of ensuring the safety and integrity of transactions.”
Jackson’s bill is only the latest Bitcoin strategic reserve legislation in the United States in the midst of inflation problems, the high American federal debt and a depreciating currency.
NC Digital Asset Freedom Act. Source: Northern Carolina Legislative Assembly
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North Carolina takes a firm position against CBDC
The former Governor of North Carolina, Roy Cooper, vetoed a bill prohibiting a digital currency from the Central Bank (CBDC) in July 2024. At the time, Cooper qualified the bill as “premature, vague and reactionary” to threats that have not yet been materialized.
In August 2024, the House of Representatives of the North Carolina canceled Cooper’s veto during a final and bipartite vote 73-41.
The Northern Carolina Senate followed the trial by eager by the veto of Cooper during a vote of 27-17 and adopted anti-BDC legislation in September 2024.
North Carolina’s anti-CBDC legislation. Source: Northern Carolina Legislative Assembly
Dan Spuller, business manager of the crypto defense organization industry, The Blockchain Association, applauded the action taken by NC legislators to repel the tide of CBDC.
“This bill should never have been opposed to the veto, and Governor Cooper was the subject of an opportunity to send a strong message to the Federal Reserve that NC is united against CBDC,” wrote SPULLER in a post of September 9 x.
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