TechFlow news, according to Cointelegraph, Utah, South Carolina, South Dakota, and Tennessee have introduced bills opposing the classification of central bank digital currencies (CBDCs) as money. The proposed legislation in these states would explicitly exclude CBDCs from their definitions of currency, potentially creating significant barriers to their use within the states.
The bill was introduced in the Tennessee Senate on January 12 by Senator Frank Niceley. Under Tennessee's Uniform Commercial Code (UCC), "money" is defined as an authorized medium of exchange. However, the proposed bill would add the phrase "excluding any central bank digital currency" to this definition.
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