This bill amends Minnesota Statutes 2024, section 336.1-201, to include a new definition for "central bank digital currency" and to revise the definition of "money" within the context of the Uniform Commercial Code. The bill introduces the term "central bank digital currency" as an electronic currency or medium of exchange issued by the United States Federal Reserve System or other specified entities, which is made directly available to consumers.

Additionally, the bill modifies the definition of "money" by specifying that it does not include a central bank digital currency, thereby distinguishing it from other forms of currency. The previous language that excluded electronic records as a medium of exchange has been removed, allowing for a clearer understanding of what constitutes money under the law. These changes aim to modernize the legal framework surrounding commerce and financial transactions in Minnesota.

Statutes affected:
Introduction: 336.1