Iowa HF2723 establishes specie as legal tender and outlines regulations for bullion depositories and electronic payment systems.

Iowa HF2723 makes specie, defined as bullion of uniform shape, size, design, content, and purity, legal tender in the state. The bill allows individuals to use specie in financial transactions but does not require acceptance of specie as payment. The treasurer of state is tasked with approving bullion depositories for secure bullion storage, authorizing electronic payment systems, and ensuring compliance with state and federal laws. The bill mandates that transactional gold and silver not be used for surveillance or social credit scoring.

Iowa HF2723 establishes specie as legal tender and outlines regulations for bullion depositories and electronic payment systems.

Iowa HF2723 makes specie, defined as bullion of uniform shape, size, design, content, and purity, legal tender in the state. The bill allows individuals to use specie in financial transactions but does not require acceptance of specie as payment. The treasurer of state is tasked with approving bullion depositories for secure bullion storage, authorizing electronic payment systems, and ensuring compliance with state and federal laws. The bill mandates that transactional gold and silver not be used for surveillance or social credit scoring.