The Missouri legislature has two bills, one in the House and one in the Senate, that aim to protect Missouri citizens from the tyranny of Central Bank Digital Currencies. One bill is Senate Bill 826, introduced by Senator Andrew Koenig (R). The other bill is House Bill 1676, introduced by Representative Mark Matthiesen (R).
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JEFFERSON CITY, Mo. (Dec. 12, 2023) – Bills filed in the Missouri House and Senate would take steps to limit the impact of central bank digital currency (CBDC), creating potentially significant roadblocks to its use in the state.
Sen. Andrew Koenig filed Senate Bill 826 (SB826) on Dec. 1. The legislation would expressly exclude a CBDC from the definition of money in Missouri.
SB826 defines central bank digital currency as a “digital medium of exchange, or digital monetary unit of account issued by the United States Federal Reserve System, a federal agency, a foreign government, a foreign central bank, or a foreign reserve system that is made directly available to a consumer by such entities.”
Under the Missouri Uniform Commercial Code (UCC), “money” means “a medium of exchange currently authorized or adopted by a domestic or foreign government. The term includes a monetary unit of account established by an intergovernmental organization or by agreement between two or more countries.”