If enacted, this bill would amend current Arizona statutes to explicitly prohibit federally recognized central bank digital currency (CBDC) from being used as legal tender or as a medium of payment for any contracts, securities, or similar instruments within the state. The bill would introduce new definitions for "legal tender" and "specie," clarifying that legal tender excludes CBDC and that specie refers to coins with precious metal content. Additionally, it would ensure that CBDC is not recognized as "money" under the Uniform Commercial Code, thereby reinforcing its exclusion from various financial transactions and legal contexts.

The bill would also make several technical amendments to existing statutes, including updating references to the definition of legal tender to align with the new language and removing outdated definitions related to legal tender and specie. It would apply these definitions uniformly across all Arizona Revised Statutes, ensuring consistency in the treatment of currency and payment methods. Overall, the bill aims to establish a clear legal framework that excludes CBDC from Arizona's financial and commercial transactions.

Statutes affected:
Introduced Version: 6-843, 6-851, 9-1443, 11-1943, 43-1021, 43-1022, 43-1121, 43-1122, 47-1201, 100-86, 6-852, 1-901, 9-1442, 11-1942, 43-1333, 99-514, 43-1084, 43-1081.01, 43-1074.02, 43-1029, 15-1871, 43-1024, 101-336, 43-1014, 43-1082, 43-1023, 15-1628, 15-1451, 43-1025, 43-1027, 111-5, 111-92, 41-1518, 43-1042, 20-1691, 43-1028, 6-101, 43-961, 43-1129, 43-1130, 43-1201, 43-947, 43-1170, 43-1130.01, 43-1175, 43-1178, 43-1183, 43-1184, 43-1124, 43-1181, 43-1165, 43-1123, 43-1127
Senate Engrossed Version: 6-843, 6-851, 9-1443, 11-1943, 43-1021, 43-1022, 43-1121, 43-1122, 47-1201, 100-86, 6-852, 1-901, 9-1442, 11-1942, 43-1333, 99-514, 43-1084, 43-1081.01, 43-1074.02, 43-1029, 15-1871, 43-1024, 101-336, 43-1014, 43-1082, 43-1023, 15-1628, 15-1451, 43-1025, 43-1027, 111-5, 111-92, 41-1518, 43-1042, 20-1691, 43-1028, 6-101, 43-961, 43-1129, 43-1130, 43-1201, 43-947, 43-1170, 43-1130.01, 43-1175, 43-1178, 43-1183, 43-1184, 43-1124, 43-1181, 43-1165, 43-1123, 43-1127