How did these states ban CBDC’s?
INDIANA AND FLORIDA AMENDED LAW AND PASSED A BILL – banning CBDC’s as “money” and adding a term.
The bill passed 116 – 1 who was the one hold out? Democrat Relicia Simone Robinson.
Since “Federal Law trumps State Law”, how will this play out? If the government decides to implement CBDC’s Will these state laws stand? Not always the case. States have the option to not participate in federal legislation ultimately.
HOW DID FLORIDA DO IT?
A new term was added to the law in Florida State Senate Bill 7054. The purpose of amending the law was to redefine the term “money” under the UCC Federal Code, “money” means a “medium of exchange that is currently authorized or adopted by a domestic or foreign government”. The term includes a monetary unity of account established by an intergovernmental organization or by agreement between two or more countries. The term does NOT include a central bank digital currency:
Initially wanted to ban decentralized central currency as well as CBDC’s but had some difficulty with crypto currency – but during the process their bill was revised which now reads:
Passed by the house 95-2 and goes into effect the same date as Florida, July 1, 2023. Who were the two hold outs? Democrats – Charles “Chuck” Moseley and John L. Bartlett.
You can contact these or any House Representative or Senators and let them know how you feel – leave a voice message or speak by phone by calling the Capitol Switchboard.
U.S. Capitol Switchboard: (202) 224-3121.