Republican

United

Attempts continue in the US state of Missouri to prohibit the potential use of central bank digital currencies (CBDCs). The state has seen several bills this year to stave off the digital currency, which does not currently exist in the United States.
<h2 id="bullion-yes-cbdc-no">Bullion yes, CBDC no</h2>
Republican Senator Rick Brattin pre-filed Senate Bill (SB) 194 on Dec. 1. The bill introduces changes to state law that would prohibit public entities from accepting a CBDC or participating in any testing of a CBDC. It also changes the definition of money in the state’s Uniform Commercial Code (UCC) to exclude CBDCs.
In addition to the provisions on CBDCs, the bill would require the state treasurer to keep at least 1% of state funds in gold and silver. It would also exempt the sale or exchange of gold and silver from the state capital gains tax and make gold and silver legal tender.
<blockquote>
 “The act declares that gold and silver shall be accepted as legal tender at their spot price plus market premium […] in the state of Missouri. Costs incurred in the course of verification of the weight and purity of any gold or silver […] shall be borne by the receiving entity.”
</blockquote>
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/crypto-super-pacs-invested-candidates-missouri-washington-michigan-primary" rel="" target="_self" text="null" title="https://cointelegraph.com/news/crypto-super-pacs-invested-candidates-missouri-washington-michigan-primary">Crypto PACs invest $4M in candidates ahead of Aug. 6 primaries</a>
<h2 id="massive-legislative-anti-cbdc-push">Massive legislative anti-CBDC push</h2>
The bill’s provisions on CBDC are similar or identical to those in other bills introduced in Missouri earlier this year.
<figure>
 <img alt="Missouri bill would ban CBDCs, make gold and silver legal tender" src="https://s3.cointelegraph.com/uploads/2024-12/019392a5-02a1-7b13-bd28-5b1a0af475cf" title="">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://x.com/RickBrattin/status/1862275897178399225" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/RickBrattin/status/1862275897178399225">Rick Brattin</a>
 </figcaption>
</figure>
SB 1352 would <a data-ct-non-breakable="null" href="https://www.senate.mo.gov/24info/BTS_Web/Bill.aspx?SessionType=r&amp;BillID=2151506" rel="null" target="null" text="null" title="null">make</a> numerous changes to the state UCC, including a prohibition on CBDCs. It is still in committee. House Bill 2780 would also ban CBDCs and affect a variety of commercial transactions. It <a data-ct-non-breakable="null" href="https://fastdemocracy.com/bill-search/mo/2024/bills/MOB00022951/" rel="null" target="null" text="null" title="null">passed</a> a House vote and has been forwarded to the state Senate.
SB 826 concerned CBDCs alone and <a data-ct-non-breakable="null" href="https://legiscan.com/MO/text/SB826/id/2861827" rel="null" target="null" text="null" title="null">failed</a> to pass. SB 736 and its companion bill in the state House of Representatives <a data-ct-non-breakable="null" href="https://www.senate.mo.gov/24info/bts_web/Bill.aspx?SessionType=R&amp;BillID=1534#:~:text=This%20provision%20is%20effective%20January%201%2C%202025." rel="null" target="null" text="null" title="null">concerned</a> CBDCs and gold and silver and failed to pass. Brattin had previously introduced SB 866, which <a data-ct-non-breakable="null" href="https://www.senate.mo.gov/24info/bts_web/Bill.aspx?SessionType=R&amp;BillID=409" rel="null" target="null" text="null" title="null">contained</a> substantially identical provisions with differences in wording. It <a data-ct-non-breakable="null" href="https://legiscan.com/MO/votes/SB866/2024" rel="null" target="null" text="null" title="null">died</a> in committee.
Anti-CBDC legislation is being passed in an increasing number of US states. <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/louisiana-crypto-law-protects-node-operators-bans-cbdc" rel="null" target="null" text="null" title="null">Louisiana</a> and <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/north-carolina-cbdc-ban-law-us" rel="null" target="null" text="null" title="null">North Carolina</a> have passed laws to that effect in recent months.
The struggle against CBDC has been <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/cbdc-anti-surveillance-state-act-passes-house" rel="" target="_self" text="null" title="https://cointelegraph.com/news/cbdc-anti-surveillance-state-act-passes-house">taken up on the national level</a> as well. The US House of Representatives passed the CBDC Anti-Surveillance State Act on May 23.
Magazine:&nbsp;<a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/crypto-regulations-us-warren-bitcoin/" rel="" target="_self" text="null" title="https://cointelegraph.com/magazine/crypto-regulations-us-warren-bitcoin/">Lawmakers’ fear and doubt drives proposed crypto regulations in US</a>

Missouri bill would ban CBDCs, make gold and silver legal tender

Table of Contents

Cointelegraph

Other articles published on Dec 4, 2024

Stellar’s 485% Surge, Monero’s Breakout Buzz, and Qubetics’ $4.2M Presale Make It the Top Crypto ...

Weekly Article Recap: 11/18-11/22

Cardano To Rally To A New ATH After Crossing the $1.20 Mark

ROSE Clears Major Resistance: Could a 3x Rally Be on the Horizon?

Understanding the Current Economic Turmoil: A Brief Overview

Bitcoin (BTC) Price Prediction for December 4

Join our free newsletter for daily crypto updates!