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AR SB133
Bill
Status
2/17/2025
Primary Sponsor
Justin Boyd
Click for details
AI Summary
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Amends Arkansas's Uniform Commercial Code to explicitly exclude central bank digital currency (CBDC) from the legal definition of "money"
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Defines "central bank digital currency" as digital currency issued by the Federal Reserve System, federal agencies, foreign governments, or foreign central banks that is made directly available to consumers or processed/validated directly by those entities
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Excludes central bank digital currency from the definition of "deposit account" under secured transactions law, alongside investment property and instrument-evidenced accounts
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Approved on February 13, 2025 as Act 50 of the Regular Session
Legislative Description
To Amend The Uniform Commercial Code; To Define "central Bank Digital Currency" Under The Uniform Commercial Code; And To Modify The Uniform Commercial Code Definitions Of "money" And "deposit Account".
Last Action
Notification that SB133 is now Act 50
2/17/2025