The Missouri Senate has introduced SB 194, which aims to prohibit central bank digital currencies (CBDCs) from being recognized as legal tender in the state. Sponsored by Senator Brattin, the bill seeks to prevent public entities from using or accepting CBDCs and also modifies the definition of 'money' under the Uniform Commercial Code to exclude these digital currencies. Additionally, SB 194 requires the State Treasurer to hold gold and silver reserves equal to at least 1% of all state funds and reduces tax liability for these precious metals. The bill also prohibits public entities from participating in any CBDC-related tests or pilot programs conducted by federal agencies. This legislative move reflects concerns about the impact of CBDCs on financial privacy and state sovereignty. Missouri's actions are part of a broader trend of states examining the role of government-issued digital currencies in their economies. Read more AI-generated news on: https://app.chaingpt.org/news

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