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Committee advances bill to bar Arkansas participation in central bank digital currency
Summary
Senate Bill 133, presented by Senator Justin Boyd, would prohibit the state from participating in a federal central bank digital currency (CBDC); the committee advanced the measure after testimony from the Arkansas Bankers Association urging caution about creating a CBDC.
Senator Justin Boyd presented Senate Bill 133, a rewrite of earlier language aimed at preventing Arkansas from participating in a central bank digital currency (CBDC). Boyd said the bill is a "speed bump" intended to stop state participation if a federal CBDC were later created.
Laurie Trogdon, president and CEO of the Arkansas Bankers Association, told the committee that banks and industry groups view a CBDC as unnecessary…
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