The bill amends the Uniform Commercial Code (UCC) to include new definitions and modifications related to digital currencies. Specifically, it defines "central bank digital currency" as a digital currency or medium of exchange issued by entities such as the Federal Reserve System or foreign central banks, which is made directly available to consumers. Additionally, the definition of "money" is updated to clarify that it includes authorized mediums of exchange but explicitly excludes central bank digital currency.

Furthermore, the bill modifies the definition of "deposit account" to specify that it does not include central bank digital currency, alongside other forms of investment property. These changes aim to modernize the UCC in light of the evolving financial landscape and the emergence of digital currencies.

Statutes affected:
Old version SB47 V2 - 1-27-2025 10:27 AM: 4-1-201(b), 01-27-2025, 4-9-102(29), 23-45-102(17)
Old version SB47 Original - 1-13-2025 01:17 PM: 4-1-201(b), 4-9-102(29)
SB 47: 4-1-201(b), 4-9-102(29)