If enacted, this bill would amend current Arizona statutes to prohibit the use of federally recognized central bank digital currency (CBDC) as legal tender and as a medium of payment for contracts, securities, or similar instruments within the state. Specifically, it would insert definitions for "legal tender" and "specie," clarifying that legal tender excludes CBDC and that specie refers to coins with precious metal content. Additionally, the bill would ensure that CBDC cannot be used in any commercial transactions or contracts, and it would apply these definitions across all Arizona Revised Statutes, including the Uniform Commercial Code.

The bill would also make several technical changes, such as updating the definition of "money" to specify that it does not include CBDC, and it would replace existing definitions of legal tender and specie with the new definitions provided in the bill. Furthermore, it would modify the language in various sections to ensure consistency with the new definitions and clarify that transfers involving CBDC are not permissible. Overall, the bill aims to establish a clear legal framework that excludes CBDC from being recognized as a valid form of currency in Arizona.

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