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Signed by the Governor: Tennessee Law Excludes CBDC from Definition of Money and Deposit Account

Governor Bill Lee signed a bill into law that expressly excludes a central bank digital currency (CBDC) from the definition of money and a "deposit account" under the Uniform Commercial Code (UCC), creating potentially significant roadblocks to its use as such in the Volunteer State. ....

United States , South Dakota , Jeff Burkhart , Thorsten Polleit , James Madison , Bill Lee , Aaron Brown , Federal Reserve , Law Commission , Senate Commerce Labor Committee , Tennessee Governor Bill Lee , Uniform Commercial Code , Bill Powers , Senate Bill , House Bill , Uniform Law Commission , Controlled Substances Act , Bloomberg Opinion , Central Bank Digital Currency , Deposit Account , State Bills ,

To the Governor: Tennessee Bill to Exclude CBDC From the Definition of Money

The Tennessee House gave final approval to a bill that would expressly exclude a central bank digital currency (CBDC) from the definition of money and a "deposit account" under the Uniform Commercial Code (UCC), creating potentially significant roadblocks to its use as such in the Volunteer State ....

South Dakota , United States , Bill Lee , Jeff Burkhart , Aaron Brown , Thorsten Polleit , James Madison , Law Commission , Senate Commerce Labor Committee , Federal Reserve , Tennessee House , Uniform Commercial Code , Bill Powers , Senate Bill , House Bill , Uniform Law Commission , Controlled Substances Act , Bloomberg Opinion , Central Bank Digital Currency , State Bills ,