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Senate advances bill to create Montana certification for network tokens, bans central bank digital currency use by government
Summary
Senators approved language on second reading to create a registration and certification regime for so‑called network tokens and to prohibit the use of central bank digital currencies by state government. Sponsors said the measure creates regulatory clarity to attract firms; opponents raised policy and technical skepticism.
Senate Bill 265 cleared second reading after a broad discussion on decentralized digital assets and how state regulators should treat new token models. Sponsor Senator Zollnikov described “network tokens” as usage tokens that enable pay‑per‑use models and decentralized services rather than securities, and said the bill creates a certification regime at the securities commissioner’s office so issuers register basic disclosures, functional descriptions and governance details in Montana.
Zollnikov said the bill requires an…
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