| 3 | 2 | | *ANS176* 01/28/2025 9:15:16 AM ANS176 |
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| 4 | 3 | | State of Arkansas 1 |
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| 5 | 4 | | 95th General Assembly A Bill 2 |
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| 6 | 5 | | Regular Session, 2025 SENATE BILL 133 3 |
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| 7 | 6 | | 4 |
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| 8 | 7 | | By: Senators J. Boyd, J. Dotson, M. McKee, C. Penzo 5 |
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| 9 | 8 | | By: Representatives Beaty Jr., L. Johnson, Long 6 |
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| 10 | 9 | | 7 |
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| 11 | 10 | | For An Act To Be Entitled 8 |
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| 12 | 11 | | AN ACT TO AMEND THE UNIFORM COMMERCIAL CODE; TO 9 |
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| 13 | 12 | | DEFINE "CENTRAL BANK DIGITAL CURRENCY" UNDER THE 10 |
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| 14 | 13 | | UNIFORM COMMERCIAL CODE; TO MODIFY THE UNIFORM 11 |
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| 15 | 14 | | COMMERCIAL CODE DEFINITIONS OF "MONEY" AND "DEPOSIT 12 |
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| 16 | 15 | | ACCOUNT"; AND FOR OTHER PURPOSES. 13 |
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| 17 | 16 | | 14 |
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| 18 | 17 | | 15 |
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| 19 | 18 | | Subtitle 16 |
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| 20 | 19 | | TO AMEND THE UNIFORM COMMERCIAL CODE; TO 17 |
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| 21 | 20 | | DEFINE "CENTRAL BANK DIGITAL CURRENCY" 18 |
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| 22 | 21 | | UNDER THE UNIFORM COMMERCIAL CODE; AND 19 |
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| 23 | 22 | | TO MODIFY THE UNIFORM COMMERCIAL CODE 20 |
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| 24 | 23 | | DEFINITIONS OF "MONEY" AND "DEPOSIT 21 |
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| 25 | 24 | | ACCOUNT". 22 |
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| 26 | 25 | | 23 |
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| 27 | 26 | | BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: 24 |
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| 28 | 27 | | 25 |
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| 29 | 28 | | SECTION 1. Arkansas Code § 4 -1-201(b)(24), concerning the Uniform 26 |
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| 30 | 29 | | Commercial Code definition of "money", is amended to read as follows: 27 |
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| 31 | 30 | | (24) “Money” means a medium of exchange that is currently 28 |
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| 32 | 31 | | authorized or adopted by a domestic or foreign government. The term includes 29 |
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| 33 | 32 | | a monetary unit of account established by an intergovernmental organization 30 |
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| 34 | 33 | | or by agreement between two (2) or more countries. "Money" does not include a 31 |
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| 35 | 34 | | central bank digital currency. 32 |
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| 36 | 35 | | 33 |
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| 37 | 36 | | SECTION 2. Arkansas Code § 4 -1-201(b), concerning the general 34 |
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| 38 | 37 | | definitions used in the Uniform Commercial Code, is amended to add an 35 |
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| 39 | 38 | | additional subdivision to read as follows: 36 SB133 |
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| 40 | 39 | | |
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| 41 | 40 | | 2 01/28/2025 9:15:16 AM ANS176 |
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| 42 | 41 | | (44) "Central bank digital currency" means a digital currency, a 1 |
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| 43 | 42 | | digital medium of exchange, or a digital monetary unit of account issued by 2 |
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| 44 | 43 | | the Federal Reserve System, a federal agency, a foreign government, a foreign 3 |
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| 45 | 44 | | central bank, or a foreign reserve system that is made directly available to 4 |
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| 46 | 45 | | a consumer by such entities. "Central bank digital currency" includes a 5 |
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| 47 | 46 | | digital currency, a digital medium of exchange, or a digital monetary unit of 6 |
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| 48 | 47 | | account issued by the Federal Reserve System, a federal agency, a foreign 7 |
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| 49 | 48 | | government, a foreign central bank, or a foreign reserve system that is 8 |
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| 50 | 49 | | processed or validated directly by such entities. 9 |
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| 51 | 50 | | 10 |
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| 52 | 51 | | SECTION 3. Arkansas Code § 4 -9-102(29), concerning the Uniform 11 |
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| 53 | 52 | | Commercial Code — Secured Transactions definition of "deposit account", is 12 |
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| 54 | 53 | | amended to read as follows: 13 |
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| 55 | 54 | | (29) “Deposit account” means a demand, time, savings, passbook, 14 |
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| 56 | 55 | | or similar account maintained with a bank. The term "deposit account" does 15 |
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| 57 | 56 | | not include investment property , central bank digital currency, or accounts 16 |
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| 58 | 57 | | evidenced by an instrument. 17 |
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| 59 | 58 | | 18 |
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| 60 | 59 | | 19 |
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