Odaily Planet Daily News: The Missouri State Senate introduced Bill SB 194 on December 1, proposing to prohibit Central Bank Digital Currency (CBDC) from being recognized as legal tender in the state. The bill aims to prevent public entities from accepting or using CBDC and modifies the definition of 'currency' in the Uniform Commercial Code to exclude these digital currencies. Sponsored by Senator Brattin, SB 194 outlines several provisions affecting Missouri's financial policy, including a requirement for the state treasurer to hold gold and silver reserves equivalent to at least 1% of the state's funds. Additionally, the bill lowers the tax liability on gold and silver, as it exempts state income tax on a portion of capital gains derived from the sale or exchange of gold and silver that is included in the taxpayer's federal adjusted gross income. Besides focusing on precious metals, the bill explicitly prohibits public entities from participating in any CBDC-related testing or pilot projects conducted by the Federal Reserve or other federal agencies. This stance reflects growing concerns among some state legislators about the impact of CBDC on financial privacy, monetary policy, and state sovereignty.

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