MN HF3253

Amends Minnesota's Uniform Commercial Code (section 336.1-201) to explicitly exclude "central bank digital currency" from the legal definition of "money"

Defines "central bank digital currency" as electronic currency issued by the U.S. Federal Reserve System, federal agencies, foreign governments, or foreign central banks that is made directly available to consumers or processed/validated directly by the issuing entity

Removes existing UCC language that excluded electronic records operating as mediums of exchange in systems predating government authorization (language that had applied to cryptocurrencies like Bitcoin)

Referred to the House Committee on Commerce Finance and Policy on April 28, 2025; authored by Representatives Engen, Dippel, Gordon, and Lawrence