HB1082 changes North Dakota’s definition of money to ban free-market-based cryptocurrencies and pave the way for a government-issued Central Bank Digital Currency (CBDC).
The North Dakota State House of Representatives passed HB1082 on February 15, 2023 by a vote of 84 to 9. We have assigned pluses to the nays because the Uniform Law Commission (ULC), a powerful organization known for advocating consistent state laws that align with Federal legislation and international commitments, strongly supported this bill. The ULC’s agenda also includes harmonizing state laws with those of other nations, which is not something allowed in the Constitution. The U.S. Constitution states that only the U.S. Congress has the power to “coin money,” and HB1082 violates that important provision.