On Feb. 17, ARK LEG enacted bill re central bank digital currency.
ARK LEG passed SB 133 to define central bank currency under uniform commercial code (UCC), amending ARK LEG 4-1-201(b)(24) and (b), ARK LEG 4-9-102(29).
Bill Provisions
Amended definitions of money and deposit account to clarify that they do not include a central bank digital currency (CBDC) and incorporated a definition for the CBDC.
CBDC includes a digital currency and medium of exchange, or a digital monetary unit of account issued by the Fed, agency or foreign bank, government or reserve system.
Legislative History
On Jan. 28, 2025, bill introduced in Senate; on Feb. 3, 2025, bill passed in Senate.
On Feb. 3, 2025, bill introduced in House; on Feb. 6, 2025, bill was passed in House.
On Feb. 13, 2025, bill approved by governor; on Feb. 17, 2025, bill became Act 50.
Effectiveness
Act effective 91 days after legislature adjourned sine die (May 5), so Aug. 4, 2025.
