This bill amends the Uniform Commercial Code (UCC) in Arkansas to include specific definitions and modifications related to "central bank digital currency." It introduces a new definition for "central bank digital currency," which is described as a digital currency or medium of exchange issued by entities such as the Federal Reserve System or foreign central banks that is made directly available to consumers. Additionally, the bill clarifies that "money" does not include central bank digital currency and modifies the definition of "deposit account" to explicitly exclude central bank digital currency.

The amendments to the UCC also refine the existing definitions of "money" and "deposit account." The definition of "money" is updated to specify that it is a medium of exchange authorized by a government, while the definition of "deposit account" is adjusted to ensure it does not encompass central bank digital currency or investment property. These changes aim to provide clarity and adapt the UCC to the evolving landscape of digital currencies.

Statutes affected:
SB 133: 4-1-201(b), 4-9-102(29)