Minnesota HF3253 amends the definition of "money" and defines "central bank digital currency" for the Uniform Commercial Code.

Minnesota HF3253 amends the definition of "money" in the Uniform Commercial Code to exclude central bank digital currency. The bill defines "central bank digital currency" as an electronic currency, medium of exchange, or monetary unit of account issued by the U.S. Federal Reserve System, a federal agency, a foreign government, a foreign central bank, or a foreign reserve system. This change affects how digital currencies issued by central banks are treated under the Uniform Commercial Code.

Minnesota HF3253 amends the definition of "money" and defines "central bank digital currency" for the Uniform Commercial Code.

Minnesota HF3253 amends the definition of "money" in the Uniform Commercial Code to exclude central bank digital currency. The bill defines "central bank digital currency" as an electronic currency, medium of exchange, or monetary unit of account issued by the U.S. Federal Reserve System, a federal agency, a foreign government, a foreign central bank, or a foreign reserve system. This change affects how digital currencies issued by central banks are treated under the Uniform Commercial Code.