Bill > SB47

This bill amends the Arkansas Uniform Commercial Code to update definitions related to money, digital currencies, and deposit accounts. Specifically, the bill modifies the definition of "money" to explicitly exclude central bank digital currencies (CBDCs), which are digital currencies or digital monetary units issued by central banks like the Federal Reserve or foreign government financial institutions. The bill adds a new definition for "central bank digital currency" that includes digital currencies processed or validated directly by federal agencies, foreign governments, or central banks. Additionally, the bill updates the definition of "deposit account" to explicitly exclude central bank digital currencies alongside other existing exclusions like investment property. These changes reflect the evolving landscape of digital financial instruments and provide clearer legal guidance about how these new types of digital currencies are classified under commercial transaction laws. The modifications aim to provide clarity and specificity in how emerging digital financial technologies are understood and regulated within the state's commercial code.

Business and Industry

https://arkleg.state.ar.us/Bills/Detail?id=sb47&ddBienniumSession=2025%2F2025R