cryptojournalist
Push to Prohibit CBDCs in Missouri
Missouri lawmakers are making another attempt to block the use of central bank digital currencies (CBDCs). Republican Senator Rick Brattin introduced Senate Bill (SB) 194 on Dec. 1, aiming to prevent public entities in Missouri from accepting or participating in any testing of CBDCs.
The bill also seeks to redefine “money” in Missouri’s Uniform Commercial Code (UCC) to exclude CBDCs, ensuring these digital currencies don’t gain recognition in the state.
Gold and Silver as Legal Tender
Beyond banning CBDCs, SB 194 proposes making gold and silver legal tender in Missouri. It requires the state treasurer to hold at least 1% of state funds in gold and silver. Additionally, the sale or exchange of these metals would be exempt from state capital gains taxes. The bill also specifies that gold and silver must be accepted at their spot price plus any market premium, with verification costs borne by the receiving entity.
Ongoing Legislative Efforts
This isn’t the first anti-CBDC legislation in Missouri. Similar bills, like SB 1352 and House Bill 2780, have been introduced earlier this year. While some passed initial votes, others failed to gain traction. This legislative push reflects a growing trend across the United States, with states like Louisiana and North Carolina already enacting laws against CBDCs.
National Context
The opposition to CBDCs isn’t limited to state-level initiatives. On May 23, the U.S. House of Representatives passed the “CBDC Anti-Surveillance State Act,” signaling broader national resistance to the concept of federally-backed digital currencies.
