Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Senate passes bill defining central bank digital currency and barring it from UCC money/deposit status
Summary
Senate Bill 133 defines central bank digital currency (CBDC) in state law and clarifies that a CBDC is neither "money" nor a deposit account under the Uniform Commercial Code, a step sponsors described as a state-level 'speed bump' against federal CBDC action; the Senate passed the bill 31-0-4.
The Arkansas Senate on Feb. 3 passed Senate Bill 133, a measure to define central bank digital currency (CBDC) in the Uniform Commercial Code and to specify that CBDC is not "money" or a deposit account under Arkansas law.
Sponsor Senator Boyd said the bill is intended to create a state‑level obstacle to implementation of a federally issued CBDC. “By clarifying a central bank digital currency is not money in Arkansas and the uniform commercial code, it places…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
