Is Your State Protecting Financial Freedom? Get The Full Breakdown Here
Source: Corey’s Digs
Is Your State Protecting Financial Freedom? Get The Full Breakdown Here
May 19, 2023
By The Sharp Edge
As the national debt approaches 32 trillion, and the Biden regime commits billions to Ukraine despite reports of embezzled funds, the American financial system is failing. Already, the 2023 banking collapse is bigger than 2008, with the combined assets of three big banks that failed in 2023 dwarfing the assets of 25 banks that failed in 2008. Meanwhile, the public is strapped with historic levels of consumer debt and inflation, driven by federal spending, as Americans struggle to make ends meet. Congress has, so far, failed to restrain the out-of-control federal budget, by passing trillion-dollar packages, continuing the money flow to weaponized agencies riddled with fraud, waste and abuse. Though this financial debacle may appear on the surface to be a destructive combination of incompetence and circumstance, in reality, the controlled demolition of the financial system as we know it is all part of the World Economic Forum’s Great Financial Reset.
While we watch this trainwreck in disbelief, central banks are preparing behind the scenes for the next phase of their financial reset – central bank digital currencies. A programmable CBDC system would enable “absolute control” over how, when, where, and by whom every single transaction is made. The implementation of a CBDC system is, without a doubt, the greatest threat to our financial freedom.
As part of this plan to roll out CBDCs, a stealth piece of legislation known as the Uniform Commercial Code, has been sliding through states unnoticed. The UCC is a set of standards designed to create uniformity among states to facilitate interstate commerce. However, recent changes to the UCC, overseen by the Uniform Law Commission, have embedded language to block cryptocurrencies while enabling CBDCs, hidden among hundreds of pages. The devil is always in the details. Tucked into the UCC amendments, the definition of “money” is amended to state “the term does not include an electronic record that is a medium of exchange recorded and transferable in a system that existed and operated for the medium of exchange before the medium of exchange was authorized or adopted by the government.” This is a sly way to block crypto because it is a “medium of exchange” that existed “before” the medium was adopted by the government. The language of course clearly paves the way for a CBDC as the implied “medium of exchange” to be “adopted by the government.”
This sinister language embedded in the UCC amendments has gone largely overlooked by state legislatures, and has already passed in 5 states, while there is legislation to amend the UCC still pending in more than 15 states. Some states have gotten wise to the sneaky tactic and changed the language to explicitly exclude central bank digital currency from the definition of money in the UCC. Florida and Indiana have both passed UCC amendments to exclude CBDCs from the definition of money, while the governor of South Dakota outright vetoed a bill containing the shifty language. These devious UCC amendments are a perfect example of why state legislation to protect the population from financial tyranny is so important.
Needless to say, we must act with the utmost urgency to protect our financial freedom and security at the state level, by urging state legislatures to pass meaningful legislation in each state to protect the use of cash, affirm gold and silver as legal tender, establish bullion depositories, and halt the implementation of central bank digital currencies. Do you know where your state stands on these important financial freedom issues? Check the list of legislation working through your state below, and then contact your state representatives to insist they take immediate and decisive action to secure your state’s financial freedom. If your state is lacking in proposed legislation in these key areas of financial freedom, check out what other states are doing, and then urge your representatives to propose similar legislation.
Here are some additional tools to track state legislation related to precious metals, cryptocurrencies, and by using a “Full Text Search” of bills in each state.
Alabama
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
SB13 Passed on April 7, 2022. SB13 is designed “To extend the exemption from sales and use tax for the gross proceeds from the sales of gold, silver, platinum, and palladium bullion, and money.”
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
No recent legislation found.
Protecting Against CBDCs:
HB408 Introduced and referred to the House Financial Services Committee on May 2, 2023. HB408 would amend the Uniform Commercial Code to define a central bank digital currency “and to specify that the definition of ‘money’ does not include central bank digital currency.” Other states have introduced or passed legislation to amend the UCC by changing the definition of money to exclude crypto such as Bitcoin while enabling a CBDC.
Enabling CBDCs:
HB348 Passed in the House on May 9, 2023, referred to Senate Judiciary Committee on May 11, 2023, and SB231 introduced and referred to Senate Committee on April 20, 2023. HB348 and SB231 seek to amend the Uniform Commercial Code. Changes to HB348 proposed on May 3, 2023, define a central bank digital currency and a deposit account, stating that the term “deposit account” does not include a CBDC. However, these changes do not appear in the latest version of HB348. Other states have introduced or passed legislation to amend the UCC by changing the definition of money to exclude crypto such as Bitcoin while enabling a CBDC. The definition of “money” in HB348 and SB231 does not contain such language. However, the definitions of a “controllable electronic record” (CER) in both HB348 and SB231 do contain similar language to exclude crypto such as Bitcoin while enabling a CBDC.
Contact your Alabama state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Alaska
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
HB3 Passed in the House on May 11, 2023, referred to Senate State Affairs Committee on May 12, 2023. HB3 affirms “gold and silver specie as legal tender.”
Removing Taxes on Gold & Silver Transactions:
HB3 Passed in the House on May 11, 2023, referred to Senate State Affairs Committee on May 12, 2023. HB3 states that a city or borough “may not levy or collect a sales or use tax on the sale or exchange of specie,” in reference to gold and silver.
Under current Alaska Department of Revenue Tax Division, “The State of Alaska currently does not have a sales and use tax; however, some local jurisdictions impose local sales taxes.”
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
HB86 Referred to the House Finance Committee on April 14, 2023, and SB84 referred to the Senate Finance Committee on May 9, 2023. The “Uniform Money Transmission Act” seeks to regulate “virtual currency” or cryptocurrency “for money transmission” and to “cooperate with other states in the regulation of money transmission.”
Protecting Against CBDCs:
No recent legislation found.
Enabling CBDCs:
No recent legislation found.
Contact your Alaska state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Arizona
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
S1235 Passed Senate Finance Committee on February 6, 2023. S1235 seeks to affirm “specie” and Bitcoin as legal tender. “Specie” is defined as “coins having precious metal content.”
HB2014 Signed into law on May 22, 2017. HB2014 states “’Legal tender’ means a medium of exchange, including specie, that is authorized by the United States Constitution or Congress for the payment of debts, public charges, taxes and dues. ‘Specie’ means coins having precious metal content.”
Removing Taxes on Gold & Silver Transactions:
HB2014 Signed into law on May 22, 2017. HB2014 removes capital gains taxation on gold and silver if exchanged for Federal Reserve notes or used in barter transactions.
Arizona law 42-5061 states “the sale of precious metal bullion and monetized bullion to the ultimate consumer” is exempt from sales tax.
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
SB1236 Vetoed by Governor on April 12, 2023. SB1236 would have prohibited a city or town from imposing “a tax or fee on any person or entity for running a node on blockchain technology in a residence.”
S1191 Passed in the House on May 15, 2023. S1191 relates to Escrow Agents and forms in which deposits may be made to add “distributed ledger technology transfers” defined as “a decentralized, shared and immutable ledger, which may be public or private, permissioned or permissionless, or driven by tokenized crypto economics or tokenless,” and explicitly excluding CBDCs by stating, “except that transfers may not be settled or backed by a central bank digital currency.”
S1235 Passed Senate Finance Committee on February 6, 2023. S1235 seeks to affirm “specie” and Bitcoin as legal tender. “Specie” is defined as “coins having precious metal content.”
S1239 Passed in the Senate on March 6, 2023, failed to pass House Ways & Means Committee on March 29, 2023. S1239 would have allowed state agencies to “enter into an agreement with a cryptocurrency service provider to provide a method to accept cryptocurrency as a payment method of fines, civil penalties or other penalties, rent, rates, taxes, fees, charges, revenue, financial obligations and special assessments to pay any amount due to that agency or this state.”
S1240 Passed in the Senate on March 1, 2023, transmitted to the House on March 2, 2023. S1240 exempts “virtual currency” from taxation. Virtual currency is defined as “a digital representation of value that functions as a medium of exchange, a unit of account and a store of value other than a representation of the United States dollar or a foreign currency.”
SCR1007 Read 2nd time in Senate on January 23, 2023. SCR1007 seeks to exempt “virtual currency” from property taxes. Virtual currency is defined as “a digital representation of value that functions as a medium of exchange, a unit of account and a store of value other than a representation of the United States dollar or a foreign currency.”
Protecting Against CBDCs:
SB1144 Failed in the House on May 15, 2023. SB1144 “Prohibits the use of central bank digital currency (CBDC) involving any contract, security or similar interest in this state, including commercial contracts.”
SB1191 Passed in the Senate on March 6, 2023, passed in the House on May 15, 2023. SB1191 relates to Escrow Agents, stating, “transfers may not be settled or backed by a central bank digital currency.”
Enabling CBDCs:
HB2770 Blocked by AZ Freedom Caucus in March 2023. HB2770 amended the Uniform Commercial Code by defining money as “a medium of exchange that is currently authorized or adopted by a domestic or foreign government. The term includes a monetary unit of account established by an intergovernmental organization or by agreement between two or more countries. The term does not include an electronic record that is a medium of exchange recorded and transferable in a system that existed and operated for the medium of exchange before the medium of exchange was authorized or adopted by the government.” HB2770 amended the UCC by changing the definition of money to exclude crypto such as Bitcoin, while enabling a CBDC. Furthermore, HB2770 contained “electronic money” language in reference to CBDCs.
Contact your Arizona state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Arkansas
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
HB1718 Passed on April 11, 2023. HB1718 creates “The Arkansas Legal Tender Act” which reaffirms gold and silver as legal tender.
Removing Taxes on Gold & Silver Transactions:
HB1718 Passed on April 11, 2023. HB1718 removes tax liability from gold and silver by stating, “the exchange of one type or form of legal tender for another type or form of legal tender shall not give rise to any tax liability,” and “the purchase, sale, or exchange of any type or form of specie shall not give rise to any tax liability.”
SB336 Signed into law on May 3, 2021. SB336 exempts “coins, currency, and bullion made in whole or in part of gold, silver, platinum, and palladium, from state sales tax.”
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
HB1438 Passed on April 4, 2023. HB1438 amends the “Uniform Money Services Act” to regulate “virtual currency” which is defined as “a digital representation of value that: (i) is used as a medium of exchange, a unit of account, or a store of value; and (ii) does not have legal tender status as recognized by the United States Department of the Treasury.”
HB1799 Passed on April 13, 2023. HB1799 creates “The Arkansas Data Centers Act Of 2023” to regulate Bitcoin mining in the state and to set out guidelines for crypto miners. The law provides crypto miners with the same rights in the state as data centers.
Protecting Against CBDCs:
HB1720 Signed into law on April 11, 2023. HB1720 specifically refers to “central bank digital currency,” and is designed “to prohibit the tracking of an individual through the use of digital currency except for limited circumstances,” stating that “A digital currency tracker shall not be used in this state to track an individual’s purchases or location through the use by an individual of digital currency unless: (1) A warrant has been issued in a criminal or civil court case that expressly authorizes the tracking of the individual’s purchases; or (2) The individual knows and consents to the digital currency tracker.”
Enabling CBDCs:
HB1588 Withdrawn by author on March 29, 2023. HB1588 would have amended the Uniform Commercial Code by changing the definition of money to exclude crypto such as Bitcoin, while enabling a CBDC.
Contact your Arkansas state representatives here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
California
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
California’s Sales and Use Tax Regulation provided a sales tax exemption for “sales of ‘monetized bullion,’ nonmonetized gold or silver bullion, and numismatic coins” of $1,500 or more beginning in 2009.
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
AB39 Pending in Assembly Appropriations Committee on May 10, 2023. AB39 would enact the “Digital Financial Assets Law,” to “prohibit a person from engaging in digital financial asset business activity, or holding itself out as being able to engage in digital financial asset business activity, with or on behalf of a resident unless any of certain criteria are met, including the person is licensed with the Department of Financial Protection and Innovation, as prescribed. The bill would define ‘digital financial asset’ to mean a digital representation of value that is used as a medium of exchange, unit of account, or store of value, and that is not legal tender, whether or not denominated in legal tender, except as specified.”
AB76 Referred to Appropriations Committee on March 22, 2023. AB76 would amend the Penal Code relating to money laundering and blockchain technology.
AB1229 Referred to Judiciary Committee on April 25, 2023. AB1229 would “add provisions governing decentralized nonprofit associations” that are “reliant, in full or in part, on a blockchain or other distributed ledger technology.”
AB1336 Referred to Privacy & Consumer Protection Committee on April 17, 2023. AB1336 would “require a nonfungible token marketplace, as defined, to disclose the terms and conditions at the time a user contracts with the nonfungible token marketplace.”
SB401 Referred to the Senate Appropriations Committee on April 17, 2023, hearing scheduled from May 18, 2023. SB401 would “provide for the regulation of digital financial asset transaction kiosks, as defined, by the Department of Financial Protection and Innovation. The bill would, among other things, prohibit an operator, as defined, from accepting or dispensing more than $1,000 in a day from or to a resident via a digital financial asset transaction kiosk.”
Protecting Against CBDCs:
No recent legislation found.
Enabling CBDCs:
SB95 Read a 2nd time in the Senate and amended, ordered a 3rd reading on April 13, 2023. SB95 amends the Uniform Commercial Code by defining money as “a medium of exchange that is currently authorized or adopted by a domestic or foreign government. The term includes a monetary unit of account established by an intergovernmental organization or by agreement between two or more countries. The term does not include an electronic record that is a medium of exchange recorded and transferable in a system that existed and operated for the medium of exchange before the medium of exchange was authorized or adopted by the government.” SB95 amends the UCC by changing the definition of money to exclude crypto such as Bitcoin, while enabling a CBDC. Furthermore, SB95 contains “electronic money” language in reference to CBDCs.
Contact your California state representatives here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Colorado
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
Colorado Department of Revenue provides sales tax exemptions stating, “Retail sales of coins and precious metal bullion are exempt from sales tax. This exemption applies to state, Regional Transportation District/Scientific and Cultural Facilities District, county and state-collected local taxes.” It goes on to state that “not all numismatic pieces are exempt. Precious metal bullion and coins that are or were at one time used as currency or medium of exchange in the United States or a foreign country (such as quarters, dimes, nickels and pennies) are exempt. However, numismatic pieces such as paper money, tokens, checks, wampum and similar items not specifically exempt from taxation do not fall under this exemption. Transactions involving the sale of jewelry and commemoratives continue to be taxable.”
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
No recent legislation found.
Protecting Against CBDCs:
No recent legislation found.
Enabling CBDCs:
SB090 Signed into law May 1, 2023. SB090 amends the Uniform Commercial Code by defining money as “a medium of exchange currently authorized or adopted by a domestic or foreign government. The term includes a monetary unit of account established by an intergovernmental organization or by agreement between two or more countries. The term does not include an electronic record that is a medium of exchange recorded and transferable in a system that existed and operated for the medium of exchange before the medium of exchange was authorized or adopted by the government.” SB090 amends the UCC by changing the definition of money to exclude crypto such as Bitcoin, while enabling a CBDC. Furthermore, SB90 contains “electronic money” language in reference to CBDCs.
Contact your Colorado state representatives here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Connecticut
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
Connecticut Sales and Use Taxes Chapter states, “Sales of and the storage or use of rare or antique coins, gold or silver bullion and gold or silver legal tender of any nation, traded according to its value as precious metal, provided such exemption shall not be applicable with respect to any such sale, storage or use in which the total value of such bullion or legal tender sold by the retailer is less than one thousand dollars.” Under current Connecticut law the sales tax exemption does not apply to transactions less than $1,000.
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
HB06752 Passed in the House on May 4, 2023, added to the Senate calendar on May 8, 2023. HB06752 would govern “the business use of digital assets; (2) define ‘virtual currency address’, ‘virtual currency kiosk’ and ‘virtual currency wallet’; and (3) establish certain requirements applicable to owners or operators of virtual currency kiosks.”
SB262 Was added to the Senate calendar on March 21, 2023. SB262 is “an act concerning the acceptance of credit and debit cards for the purchase of virtual currency.”
Protecting Against CBDCs:
No recent legislation found.
Enabling CBDCs:
No recent legislation found.
Contact your Connecticut state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Delaware
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
Delaware Division of Revenue states, “Delaware does not impose a state or local sales tax, but does impose a gross receipts tax on the seller of goods (tangible or otherwise) or provider of services in the state.”
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
No recent legislation found.
Protecting Against CBDCs:
No recent legislation found.
Enabling CBDCs:
No recent legislation found.
Contact your Delaware state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Florida
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
Florida Administrative Code states, “The sale of gold, silver, or platinum bullion, or any combination thereof, in a single transaction, is exempt when the total sales price of such bullion exceeds $500.” Under current Florida law the sales tax exemption does not apply to transactions less than $500.
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
No recent legislation found.
Protecting Against CBDCs:
HB7049 was laid on the table on May 1, 2023, and referred to SB7054 which was signed into law on May 12, 2023. SB7054 amends the Uniform Commercial Code by defining “central bank digital currency” and by excluding CBDCs from the definition of money, stating “The term does not include a central bank digital currency.” Other states have introduced or passed legislation to amend the UCC by changing the definition of money to exclude crypto such as Bitcoin while enabling a CBDC.
Enabling CBDCs:
No recent legislation found.
Contact your Florida state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Georgia
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
Georgia tax code provides exemptions for “sales of gold, silver, or platinum bullion or any combination of such bullion” and “sales of coins or currency or a combination of coins and currency.”
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
HB55 Passed on May 4, 2023. HB55 amends the Official Code of Georgia Annotated to regulate “virtual currency” in order to “foster the growth of businesses engaged in money transmission or the sale of payment instruments involving virtual currency in Georgia and spur state economic development.”
HB219 Passed on May 4, 2023. HB219 amends the Official Code of Georgia Annotated related to money laundering and “digital or electronic money or currency.”
Protecting Against CBDCs:
No recent legislation found.
Enabling CBDCs:
No recent legislation found.
Contact your Georgia state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Hawaii
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
Hawaii’s Department of Taxation does not impose sales tax but does have a General Excise Tax. The GET is a tax on businesses. There is no GET exemption for gold and silver purchases.
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
HB790 Referred to Consumer Protection & Commerce Committee on January 30, 2023. HB790 would establish “a program for the licensure, regulation, and oversight of digital currency companies” and appropriate funds.
HB1261 Passed in the House on March 7, 2023, referred to Senate Commerce & Consumer Protection Committee on March 10, 2023. HB1261 would establish “a program for the licensure, regulation, and oversight of special purpose digital currency companies” and “Extends operations of companies in the digital currency innovation lab under certain circumstances.”
SB945 Passed on May 4, 2023. SB945 establishes “within the Department of Commerce and Consumer Affairs Division of Financial Institutions a program for the licensure, regulation, and oversight of special purpose digital currency companies” and “extends operations of companies in the Digital Currency Innovation Lab under certain circumstances” as well as appropriates funds.
Protecting Against CBDCs:
No recent legislation found.
Enabling CBDCs:
HB525 Passed in the Senate on April 11, 2023, Passed in the House on April 27, 2023. HB525 amends the Uniform Commercial Code by defining money as “a medium of exchange that is currently authorized or adopted by a domestic or foreign government. ‘Money’ includes a monetary unit of account established by an intergovernmental organization or by agreement between two or more countries. ‘Money’ does not include an electronic record that is a medium of exchange recorded and transferable in a system that existed and operated for the medium of exchange before the medium of exchange was authorized or adopted by the government.” HB525 amends the UCC by changing the definition of money to exclude crypto such as Bitcoin, while enabling a CBDC. Furthermore, HB525 contains “electronic money” language in reference to CBDCs.
SB352 Referred to the House Consumer Protection and Commerce Committee on March 9, 2023 also amended the Uniform Commercial Code by changing the definition of money to exclude crypto such as Bitcoin, while enabling a CBDC.
Contact your Hawaii state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Idaho
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
Idaho law states, “the sale of precious metal bullion or the sale of monetized bullion,” are exempt from sales tax.
Establishing a Gold Depository:
H0180 Passed in the House on March 2, 2023, referred to the Senate State Affairs Committee on March 3, 2023. H0180 amends existing law “to provide that idle moneys may be invested in physical gold and silver in certain instances… Gold and silver held under this subsection shall be maintained securely in a depository.”
Digital Currency:
HB188 Died in committee on March 21, 2023. HB188 would have revised the Unclaimed Property Act to include “virtual currency” defined as “a digital representation of value used as a medium of exchange, unit of account, or store of value that does not have legal tender status recognized by the United States.”
Protecting Against CBDCs:
No recent legislation found.
Enabling CBDCs:
No recent legislation found.
Contact your Idaho state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Illinois
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
Illinois law states, “Legal tender, currency, medallions, or gold or silver coinage issued by the State of Illinois, the government of the United States of America, or the government of any foreign country, and bullion” are exempt from sales taxation.
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
HB3479 Passed in the House on April 27, 2023, referred to the Senate Assignments Committee on May 2, 2023. HB3479 creates the “Uniform Money Transmission Modernization Act” in order to regulate digital assets and “ensure states can coordinate in all areas of regulation, licensing, and supervision.”
SB1239 Referred to the Senate Assignments Committee on February 2, 2023. SB1239 would provide tax incentives to crypto miners by changing the definition of a “qualifying Illinois data center” to include cryptocurrency mining for the purpose of generating jobs and revenue for the state.
SB1887 Referred to the Senate Assignments Committee on February 9, 2023. SB1887 would create the “Digital Property Protection and Law Enforcement Act” which “provides that upon a valid request from the Attorney General or a State’s Attorney, made pursuant to the substantive or procedural laws of the State, a court may order any appropriate blockchain transaction for digital property or for the execution of a smart contract” and “provides that a blockchain network that processes a blockchain transaction originating in the State at any time after the effective date of the Act shall process a court-ordered blockchain transaction without the need for the private key associated with the digital property or smart contract” as well as allowing the court to “assess a civil penalty of between $5,000 and $10,000 for each day that the blockchain network fails to comply with the order.” The crypto industry has called this proposed law “unworkable.”
SB1718 Referred to the Senate Assignments Committee on February 9, 2023. SB1718 “amends the Blockchain Business Development Act to provide that the Department of Financial and Professional Regulation shall have authority to adopt rules, opinions, or interpretive letters regarding the provision of custodial services for digital assets.”
Protecting Against CBDCs:
No recent legislation found.
Enabling CBDCs:
No recent legislation found.
Contact your Illinois state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Indiana
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
Indiana Department of Revenue states “transactions involving the sale of or the lease or rental of storage for certain coins, bullion, or legal tender are exempt from sales tax.”
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
No recent legislation found.
Protecting Against CBDCs:
SB0468 Signed into law on May 4, 2023. The final version of SB0468 amends the Uniform Commercial Code to define money as “a medium of exchange that is currently authorized or adopted by a domestic or foreign government and is not in an electronic form. The term includes a monetary unit of account established by an intergovernmental organization or by agreement between two (2) or more nations. The term does not include a central bank digital currency that is currently adopted, or that may be adopted, by the United States government, a foreign government, a foreign reserve, or a foreign sanctioned central bank.” Other states have introduced or passed legislation to amend the UCC by changing the definition of money to exclude crypto such as Bitcoin while enabling a CBDC.
Enabling CBDCs:
A previous version of SB0468 amended the definition of money in the UCC as “a medium of exchange that is currently authorized or adopted by a domestic or foreign government. The term includes a monetary unit of account established by an intergovernmental organization or by agreement between two (2) or more nations. The term does not include an electronic record that is a medium of exchange recorded and transferable in a system that existed and operated for the medium of exchange before the medium of exchange was authorized or adopted by the government.” The previous version of SB0468 would have amended the Uniform Commercial Code by changing the definition of money under the UCC to exclude crypto such as Bitcoin, while enabling a CBDC. Furthermore, the previous version of SB0468 contained “electronic money” language in reference to CBDCs.
Contact your Indiana state representatives here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Iowa
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
HF208 Committee report approved the bill, the bill was renumbered to HF659 on March 7, 2023, HF659 Referred to the House Ways & Means Committee on May 4, 2023. HF659 states, “This bill excludes from the computation of net income for purposes of the individual income tax the capital gain from the sale of bullion, coins, or currency and includes capital loss from such a sale.”
Iowa Code states “the sales price from sales of coins, currency, or bullion” is exempt from tax.
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
No recent legislation found.
Protecting Against CBDCs:
No recent legislation found.
Enabling CBDCs:
HB618 Referred to the House Judiciary Committee on May 4, 2023, and SB540 Placed on the Senate calendar under unfinished business on March 30, 2023. HB618 and SB540 would amend the Uniform Commercial Code by defining money as “a medium of exchange that is currently authorized or adopted by a domestic or foreign government. The term includes a monetary unit of account established by an intergovernmental organization, or pursuant to an agreement between two or more countries. The term does not include an electronic record that is a medium of exchange recorded and transferable in a system that existed and operated for the medium of exchange before the medium of exchange was authorized or adopted by the government.” HB618 and SB540 would amend the UCC by changing the definition of money to exclude crypto such as Bitcoin, while enabling a CBDC.
Contact your Iowa state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Kansas
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
HB2405 House Referred to Committee on Federal and State Affairs on February 10, 2023, and SB303 Senate Committee of the Whole passed over and retains a place on the calendar on March 29, 2023. HB2405 and SB303 establish the Kansas Legal Tender Act and provide “for an income tax subtraction modification for sales of specie.”
Removing Taxes on Gold & Silver Transactions:
HB2405 House Referred to Committee on Federal and State Affairs on February 10, 2023. SB303 Senate Committee of the Whole passed over and retains a place on the calendar on March 29, 2023. HB2405 and SB303 establish the Kansas Legal Tender Act and provide “for an income tax subtraction modification for sales of specie.”
HB2140 was signed into law in July 2019. HB2140 exempts “all sales of gold or silver coins; and palladium, platinum, gold or silver bullion” from sales tax.
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
HB2167 Stricken from the calendar in the House on February 23, 2023. HB2167 would amend the Campaign Finance Act “to regulate and limit the use of cryptocurrency and to prohibit the use of any political funds collected by a candidate or candidate committee for a candidate for federal office.”
SB204 Withdrawn from the calendar in the Senate, referred to Senate Committee on Financial Institutions and Insurance on April 4, 2023. SB204 refers to the Technology-Enabled Fiduciary Financial Institutions Act, “replacing the definition of ‘charitable beneficiaries’ with ‘qualified charities’” in relation to digital assets.
Protecting Against CBDCs:
No recent legislation found.
Enabling CBDCs:
No recent legislation found.
Contact your Kansas state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Kentucky
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
HB213 Died in committee on February 23, 2023. HB213 would have exempted “currency and bullion from sales and use tax.”
HB360 Signed into law on March 24, 2023. A previous version of HB360 included language to exempt “bars, ingots, or coins, which are made of gold, silver, platinum, palladium, or a combination of these metals” from sales tax. However, the latest version of HB360 that passed is missing this language.
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
No recent legislation found.
Protecting Against CBDCs:
No recent legislation found.
Enabling CBDCs:
SB64 Passed in the Senate on February 28, 2023, returned to House Judiciary Committee on March 14, 2023, died in committee. SB64 would have amended the Uniform Commercial Code to define money as “a medium of exchange that is currently authorized or adopted by a domestic or foreign government. The term includes a monetary unit of account established by an intergovernmental organization or by agreement between two (2) or more countries. The term does not include an electronic record that is a medium of exchange recorded and transferable in a system that existed and operated for the medium of exchange before the medium of exchange was authorized or adopted by the government.” SB64 would have changed the definition of money under the UCC to exclude crypto such as Bitcoin, while enabling a CBDC. Furthermore, SB64 contained “electronic money” language in reference to CBDCs.
Contact your Kentucky state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Louisiana
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
HB396 was signed into law in 2017. HB396 provides “specific exclusions and exemptions” for “sales and purchases of platinum, gold, or silver bullion, that is valued solely upon its precious metal content, whether in coin or ingot form” and “numismatic coins that have a sales price of no more than one thousand dollars” as well as “numismatic coins sold at a national, statewide, or multi-parish numismatic trade show.”
HB641 Scheduled for a floor debate on May 18, 2023. HB641 seeks “the termination of certain tax exemptions, exclusions, credits, deductions, and other tax incentives.” HB641 appears to remove some tax exemptions in relation to “tangible personal property,” though precious metals appear to be excluded from the definition of “tangible personal property.”
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
SB185 Passed in the Senate, referred to House Commerce Committee on May 10, 2023, hearing scheduled for May 22, 2023. SB185 relates to licensing and regulation of “virtual currency businesses.”
Protecting Against CBDCs:
HCR71 Referred to the House Committee on Commerce on May 2, 2023, scheduled for floor debate on May 18, 2023. HCR71 “urges the United States Congress to not support any legislation or efforts to adopt a central bank digital currency in the United States.”
HB415 Referred to the House Committee on Commerce on April 10, 2023, scheduled for floor debate on May 17, 2023. HB415 “retains present law and adds that a deposit account does not include a central bank digital currency.”
Enabling CBDCs:
HB239 First appeared in the Interim Calendar in the House on April 3, 2023. HB239 would amend the Uniform Commercial Code by defining money as “a medium of exchange that is currently authorized or adopted by a domestic or foreign government. The term includes a monetary unit of account established by an intergovernmental organization or by agreement between two or more countries. The term does not include an electronic record that is a medium of exchange recorded and transferable in a system that existed and operated for the medium of exchange before the medium of exchange was authorized or adopted by the government.” HB239 would amend the UCC by changing the definition of money to exclude crypto such as Bitcoin, while enabling a CBDC. Furthermore, HB239 contains “electronic money” language in reference to CBDCs.
Contact your Louisiana state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Maine
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
LD1270 Passed in Senate on May 16, 2023. LD1270 is “an act to protect Maine people from inflation by restoring gold and silver as legal tender.”
Removing Taxes on Gold & Silver Transactions:
LD1051 Passed in Senate on May 16, 2023. LD1051 is “an act to protect Maine people from inflation by exempting gold and silver coins and bullion from the state sales and use tax.”
Establishing a Gold Depository:
LD734 Pending in the Joint Appropriations & Financial Affairs Committee as of May 11, 2023. LD734 is “an act to authorize the treasurer of state and municipalities to invest in gold, silver and other precious metals.”
Digital Currency:
LD990 Passed in Senate on May 16, 2023. LD990 “makes clear that” uninsured banks “may hold virtual currency or other digital assets.”
Protecting Against CBDCs:
No recent legislation found.
Enabling CBDCs:
LD91 Carried over in the House on March 30, 2023. LD91 seeks to “update the Uniform Commercial Code with the national 2022 revisions.” Other states have introduced or passed legislation to amend the UCC in which the definition of money is changed to exclude crypto such as Bitcoin while enabling a CBDC.
Contact your Maine state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Maryland
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
Maryland Tax Code states, “the sales and use tax does not apply to a sale of precious metal bullion or coins if the sale price is greater than $1,000” and defines precious metal bullion or coins as “any precious metal that has gone through a refining process and is in a state or condition such that its value depends on its precious metal content and not on its form.”
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
HB192 and SB269 Signed into law on April 24, 2023. HB192 and SB269 prohibit “certain persons subject to campaign finance regulation from making or accepting monetary contributions or monetary donations using any currency other than United States currency” and “prohibits a campaign finance entity or a person acting on behalf of a campaign finance entity from making a monetary expenditure using any currency other than United States currency” while “authorizing the State Administrator of Elections to investigate certain potential violations of this Act and issue a subpoena in furtherance of an investigation.”
Protecting Against CBDCs:
No recent legislation found.
Enabling CBDCs:
No recent legislation found.
Contact your Maryland state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Massachusetts
Protecting the Use of Cash:
H307 Referred to the Joint Committee on Consumer Protection and Professional Licensure, Senate concurred on February 16, 2023. H307 is “legislation to require that all establishments be required to accept cash for transactions.”
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
Massachusetts Law provides a sales tax exemption for “Sales of one thousand dollars or more of (i) rare coins of numismatic value; (ii) gold or silver bullion or coins; or (iii) gold or silver tender of any nation traded and sold according to its value as precious metal. The word “bullion” shall not include fabricated precious metal which has been processed or manufactured for industrial, professional or artistic uses.”
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
H69 and S29 Referred to the Joint Committee on Advanced Information Technology, the Internet and Cybersecurity in the House, Senate concurred on February 16, 2023. H69 and S29 are acts “establishing a special commission on blockchain and cryptocurrency.”
H70 Referred to the Joint Committee on Advanced Information Technology, the Internet and Cybersecurity in the House, Senate concurred on February 16, 2023. H70 instructs the office of the State Treasurer to “develop and periodically review and update a digital module and resources on cryptocurrencies and digital assets to support Massachusetts residents with overseeing their finances, understanding money management strategies, and protecting their security.”
S690 Referred to the Joint Committee on Financial Services, House concurred on February 16, 2023. S690 is “an act protecting consumers in cryptocurrency exchanges.”
Protecting Against CBDCs:
No recent legislation found.
Enabling CBDCs:
H1112 Referred to the Joint Committee on Financial Services, Senate concurred on February 16, 2023. H1112 would amend the Uniform Commercial Code by defining money as “a medium of exchange that is currently authorized or adopted by a domestic or foreign government. The term includes a monetary unit of account established by an intergovernmental organization, or pursuant to an agreement between two or more countries. The term does not include an electronic record that is a medium of exchange recorded and transferable in a system that existed and operated for the medium of exchange before the medium of exchange was authorized or adopted by the government.” H1112 would amend the UCC by changing the definition of money to exclude crypto such as Bitcoin, while enabling a CBDC. Furthermore, H1112 contains “electronic money” language in reference to CBDCs.
Contact your Massachusetts state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Michigan
Protecting the Use of Cash:
SB0283 Referred to the Committee on Regulatory Affairs in the Senate on April 20, 2023. SB0283 prohibits retailers from “requiring the buyer to pay using credit or refusing to accept legal tender when offered by the buyer as payment.”
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
Michigan’s General Sales Tax Act provides sales tax exemptions stating, “a sale of investment coins and bullion is exempt from the tax under this act.”
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
No recent legislation found.
Protecting Against CBDCs:
No recent legislation found.
Enabling CBDCs:
No recent legislation found.
Contact your Michigan state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Minnesota
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
SF373 Referred to the Senate Taxes Committee on January 17, 2023, and HF106 pending in the House Taxes Committee on February 27, 2023. SF373 and HF106 expand the sales tax exemption to state “bullion, coins, and currency are exempt.” Bullion is defined as “bars, ingots, or commemorative medallions of gold, silver, platinum, palladium, rhodium, or a combination of these where the value of the metal depends on its content and not form” while coins and currency are defined as “a coin or currency made of gold, silver, or other metal or paper which is or has been used as legal tender.”
HF No.1 was signed into law in May 2017 and “provides a sales tax exemption for precious metal bullion.” Precious metal bullion is defined as “bars or rounds that are at least 99.9% gold, silver, or platinum by weight, and are marked for weight, purity, and content.”
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
HF1176 Second reading in the House on March 16, 2023, and SF1265 second reading in the Senate on March 6, 2023. HF1176 and SF1265 state “a dental provider contract must include a method of payment for dental care services in which no fees associated with the method of payment, including credit card fees and fees related to payment in the form of digital or virtual currency, are incurred by the dentist or dental clinic.”
HF2392 Second reading in the House on March 20, 2023, and SF1362 passed in the Senate, second reading in the House on May 1, 2023. HF2392 and SF1362 relate to campaign finance adding regulations of virtual currency, stating “principal campaign committee, political committee, political fund, or party unit may accept a donation in kind in the form of virtual currency. The value of donated virtual currency is its fair market value at the time it is donated. The recipient of a virtual currency contribution must sell the virtual currency in exchange for United States currency within five business days after receipt” and “any increase in the value of donated virtual currency after its donation, but before its conversion to United States currency, must be reported as a receipt that is not a contribution.” SF1943 Withdrawn and re-referred to Senate Elections Committee on March 15, 2023. SF1943 contained similar language to regulate virtual currency in relation to campaign finance.
SF2744 Passed in the Senate on April 14, 2023, and passed in the House as amended on April 27, 2023, HF2680 and HF2754 Referred to Ways & Means Committee in the House in April 2023. These bills seek to regulate “virtual currency” and “virtual-currency business activity” licensed in Minnesota.
Protecting Against CBDCs:
No recent legislation found.
Enabling CBDCs:
No recent legislation found.
Contact your Minnesota state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Mississippi
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
SB2019 and HB1661 Failed on March 14, 2023, and HB508 failed on February 22, 2023. All 3 bills sought to “exempt from sales taxation sales of coins, currency and bullion.”
SB2966 Failed February 22, 2023. SB2966 sought to provide exemptions stating, “that capital gain on the sale or exchange of gold or silver bullion is exempt from state income tax” and the bill sought “to exempt sales of investment grade gold or silver bullion from the Mississippi sales tax.”
Mississippi currently levies a 7% sales tax on the purchase of precious metals.
Establishing a Gold Depository:
SB2966 Failed February 22, 2023. SB2966 sought “to authorize and direct the State Treasurer to invest no less than one percent (1%) of state surplus funds in gold or silver bullion and to establish the Mississippi bullion depository.”
Digital Currency:
HB848 Tabled in the House on February 9, 2023, and SB2603 failed on March 10, 2023. HB843 and SB2603 are bills to create the “Mississippi Digital Asset Mining Act” which seeks “to define the term “virtual currency” and “to provide an exemption for the buying, selling, issuing, receiving or taking custody of virtual currency.”
HB849 Died in committee on January 31, 2023. HB849 sought to “provide that a person who develops, sells or facilitates the exchange of an open blockchain token is not subject to certain securities and money transmission laws” and “to provide an exemption for a person who develops, sells or facilitates the exchange of an open blockchain token.”
HB1290 and SB2435 Failed on January 31, 2023. HB1290 and SB2435 sought “to create the orphaned well cryptocurrency mining partnership program for the purpose of authorizing cryptocurrency miners to assume liability of plugging, remediating, or reclaiming orphaned wells, in return for temporary control of the energy from the well.”
Protecting Against CBDCs:
No recent legislation found.
Enabling CBDCs:
No recent legislation found.
Contact your Mississippi state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Missouri
Protecting the Use of Cash:
SB100 Passed in Senate February 9, 2023, placed on Informal Calendar in the House for third reading, and HB1375 referred to House Financial Institutions Committee on May 12, 2023. SB100 and HB1375 protect the use of cash by stating, “no public entity shall require payment in the form of any digital currency. Payment by means of cash, debit card, or credit card shall be considered legal tender and shall be accepted by all public entities. Payment in gold and silver coinage shall also be considered legal tender and shall be accepted by all public entities.”
Recognizing Gold & Silver as Legal Tender:
SB100 Passed in Senate February 9, 2023, placed on Informal Calendar in the House for third reading, and HB1375 referred to House Financial Institutions Committee on May 12, 2023. SB100 and HB1375 affirm “gold and silver coinage shall be accepted as legal tender, at their [par value, fixed by the laws of the United States] spot price plus market premium, and shall be receivable in payment of all debts, public or private, hereafter contracted in the state of Missouri,” adding that “under no circumstance shall the state of Missouri or any department, agency, court, political subdivision, or instrumentality thereof seize from any person any gold or silver that is owned by such person.”
Removing Taxes on Gold & Silver Transactions:
SB100 Passed in Senate February 9, 2023, placed on Informal Calendar in the House for third reading, and HB1375 referred to House Financial Institutions Committee on May 12, 2023. SB100 and HB1375 provide exemptions for “all tax years beginning on or after January 1, 2024, the portion of capital gain on the sale or exchange of gold and silver that are otherwise included in the taxpayer’s federal adjusted gross income.”
Missouri law provides sales tax exemptions for bullion and investment coins stating they are “specifically exempted from all local sales taxes.”
Establishing a Gold Depository:
SB100 Passed in Senate February 9, 2023, placed on Informal Calendar in the House for third reading, and HB1375 referred to House Financial Institutions Committee on May 12, 2023. SB100 and HB1375 instruct the State Treasurer to “keep in the custody of the state treasury an amount of gold and silver greater than or equal to one percent of all state funds.”
HB718 Referred to House Financial Institutions Committee on May 12, 2023. HB718 would create the “Missouri Bullion Depository.”
Digital Currency:
HB586 Placed on the Informal Perfection Calendar in the House on May 5, 2023, and HB725 passed in the House and referred to Fiscal Oversight Committee in the Senate on May 5, 2023. HB586 modifies regulations related to teller machines and “digital currencies.” HB725 “modifies and establishes offenses involving teller machines as defined, which include “digital currencies.”
HB764 Passed in the House Legislative Oversight Committee on April 20, 2023, SB692 Referred to the Senate Insurance and Banking Committee on April 6, 2023, and SB536 Passed in the Senate Insurance and Banking Committee on April 25, 2023. HB764, SB692 and SB536 establish “provisions relating to digital asset mining and virtual currencies.” HB764 and SB692 create the “Digital Asset Mining Protection Act”.
SB186 Passed in the House on April 26, 2023, passed in the Senate on May 11, 2023. SB186 modifies provisions for criminal offenses regarding teller machines and defines “teller machines” to include “a computer terminal owned or controlled by a financial institution or a private business” that transfers “digital currencies.”
Protecting Against CBDCs:
SB100 Passed in Senate February 9, 2023, placed on Informal Calendar in the House for third reading, and HB1375 referred to House Financial Institutions Committee on May 12, 2023. SB100 and HB1375 protect against the required use of CBDCs by stating, “no public entity shall require payment in the form of any digital currency. Payment by means of cash, debit card, or credit card shall be considered legal tender and shall be accepted by all public entities. Payment in gold and silver coinage shall also be considered legal tender and shall be accepted by all public entities.”
Enabling CBDCs:
HB1165 Action postponed in the House on April 6, 2023. A previous version of HB1165 amended to the Uniform Commercial Code by defining money as “a medium of exchange that is currently authorized or adopted by a domestic or foreign government. The term includes a monetary unit of account established by an intergovernmental organization or by agreement between two or more countries. The term does not include an electronic record that is a medium of exchange recorded and transferable in a system that existed and operated for the medium of exchange before the medium of exchange was authorized or adopted by the government.” The previous version of HB1165 amended the UCC by changing the definition of money to exclude crypto such as Bitcoin, while enabling CBDCs. Furthermore, the previous version of HB1165 contained “electronic money” language in reference to CBDCs. The latest version of HB1165 removed this language.
Contact your Missouri state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Montana
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
HB620 Missed Deadline for General Bill Transmittal in the House on March 11, 2023. HB620 establishes the Legal Tender Act to “expressly allows the state to recognize the gold or silver coin or bullion as legal tender in this state.”
HB884 Missed Deadline for Revenue Bill Transmittal in the House on April 6, 2023. HB884 states “The Department of Revenue may not require but shall allow a taxpayer to use or employ gold and silver coin or electronic gold currency as media of exchange with respect to the payment of any tax or fee imposed.” The bill also provides tax credits for payments made to the state in gold and silver coin.
Removing Taxes on Gold & Silver Transactions:
HB884 Missed Deadline for Revenue Bill Transmittal in the House on April 6, 2023. HB884 states “The Department of Revenue may not require but shall allow a taxpayer to use or employ gold and silver coin or electronic gold currency as media of exchange with respect to the payment of any tax or fee imposed.” The bill also provides tax credits for payments made to the state in gold and silver coin.
Montana does not levy a state sales tax on precious metal purchases.
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
HB136 Passed on May 4, 2023. H136 revises the Unclaimed Property Act to include regulations for “virtual currency.”
SB178 Signed into law on May 2, 2023. SB178 revises cryptocurrency laws “to protect the right of individuals and businesses to mine digital assets and create legal certainty for the digital asset mining industry.”
Protecting Against CBDCs:
SB370 Failed in the Senate on May 8, 2023. The latest version of SB370 revised the Universal Commercial Code to include language stating, “The term ‘money’ does not include any central bank digital currency or any requirement to accept or use a central bank digital currency, unless the central bank digital currency is specifically recognized and approved by Montana law.” Furthermore, the latest version of SB370 removed language changing the definition of money to exclude crypto such as Bitcoin, while enabling CBDCs.
Enabling CBDCs:
A previous version of SB370 amended the Uniform Commercial Code to define money as “a medium of exchange that is currently authorized or adopted by a domestic or foreign government. The term includes a monetary unit of account established by an intergovernmental organization or by pursuant to an agreement between two or more countries. The term does not include an electronic record that is a medium of exchange recorded and transferable in a system that existed and operated for the medium of exchange before the medium of exchange was authorized or adopted by the government.” The previous version of SB370 would have amended the UCC by changing the definition of money to exclude crypto such as Bitcoin, while enabling CBDCs.
Contact your Montana state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Nebraska
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
Nebraska’s law LB867 provides exemptions by stating “sales and use taxes shall not be imposed on the gross receipts from the sale, lease, or rental of and the storage, use, or other consumption in this state of currency or bullion.” Bullion includes “bars, ingots, or commemorative medallions of gold, silver, platinum, or palladium, or a combination of these for which the value of the metals depends on its content and not the form.” Currency includes “a coin or currency made of gold, silver, or other metal or paper which has been used as legal tender.”
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
LB214 Pending in the Legislature until June 2, 2023, LB674 pending in the Banking, Commerce & Insurance Committee on January 20, 2023, and LB92 placed on final reading on May 2, 2023. LB214, LB674 and LB92 change “provisions relating to digital asset depositories.”
LB669 pending in the Banking, Commerce & Insurance Committee on January 20, 2023. LB669 provides “powers for the Director of Banking and Finance regarding conditions on financial institutions including digital asset depositories.”
Protecting Against CBDCs:
No recent legislation found.
Enabling CBDCs:
LB94 Passed committee and advanced to enrollment and review on February 16, 2023. LB94 amends the Uniform Commercial Code by defining money as “a medium of exchange that is currently authorized or adopted by a domestic or foreign government. The term includes a monetary unit of account established by an intergovernmental organization or by agreement between two or more countries. The term does not include an electronic record that is a medium of exchange recorded and transferable in a system that existed and operated for the medium of exchange before the medium of exchange was authorized or adopted by the government.” LB94 amends the UCC by changing the definition of money to exclude crypto such as Bitcoin, while enabling CBDCs.
Contact your Nebraska state representatives here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Nevada
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
Nevada’s Administrative Code provides a sales tax exemption for bullion stating the tax “does not apply to sales of bullion, even though sold at a premium price, if the purpose of the use of the bullion is as a medium of exchange.”
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
SB165 Referred to Senate Finance Committee on April 13, 2023. SB165 creates an “Emerging Technologies Task Force within the Department of Business and Industry” to facilitate and support emerging technology businesses including in the area of blockchain.
SB333 Referred to Committee on Commerce and Labor on April 26, 2023. SB333 is “an act relating to virtual currency; requiring a virtual currency business to register with the Commissioner of Financial Institutions before engaging in virtual currency business activity with or on behalf of a resident of this State; creating the Virtual Currency Recovery Account; authorizing the Commissioner to impose a civil penalty on a virtual currency business that engages in certain conduct; authorizing the Commissioner to award payments of restitution to certain residents who are victims of fraud committed by a virtual currency business, etc.”
SB360 Failed on April 15, 2023. SB360 was a bill “relating to digital financial assets; providing for the licensure and regulation of persons engaged in digital financial asset business activity; setting forth certain requirements concerning the operations of a person who is licensed to engage in digital financial asset business activity” and “providing penalties.”
Protecting Against CBDCs:
No recent legislation found.
Enabling CBDCs:
AB231 Referred to the Senate Judiciary Committee on April 21, 2023. A previous version of AB231 amended the Uniform Commercial Code to define money as “a medium of exchange that is currently authorized or adopted by a domestic or foreign government. The term includes a monetary unit of account established by an intergovernmental organization or by agreement between two or more countries. The term does not include an electronic record that is a medium of exchange recorded and transferable in a system that existed and operated for the medium of exchange before the medium of exchange was authorized or adopted by the government.” The previous version of AB231 would have amended the UCC by changing the definition of money to exclude crypto such as Bitcoin, while enabling CBDCs. The latest version of AB231 has removed this language.
Contact your Nevada state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
New Hampshire
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
No recent legislation found. New Hampshire does not levy a sales tax.
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
HB645 Pending in the House Commerce & Consumer Affairs Committee on March 13, 2023. HB645 is an act “relative to the establishment of decentralized autonomous organizations as legal entities within the state” which includes blockchain and distributed ledger.
Protecting Against CBDCs:
HB225 Pending in the House Commerce & Consumer Affairs Committee on March 13, 2023. HB225 states “No currency, whether tangible, digital, or otherwise, which inherently compromises privacy by provision of transaction or usage details to any government agency or partner; allows programming of prohibited or mandatory uses; has the ability to block or refuse any lawful transactions; can be connected to any form of credit score; can be programmed with an expiration date; or, can be programmed with non-market driven inflation, may be used as legal tender by any entity for any debts in the state of New Hampshire, including by the Federal Reserve.”
Enabling CBDCs:
HB584 Passed in the House and passed in the Senate Commerce Committee on May 16, 2023. A previous version of HB584 amended the Uniform Commercial Code by defining money as “a medium of exchange that is currently authorized or adopted by a domestic or foreign government. The term includes a monetary unit of account established by an intergovernmental organization, or pursuant to an agreement between 2 or more countries. The term does not include an electronic record that is a medium of exchange recorded and transferable in a system that existed and operated for the medium of exchange before the medium of exchange was authorized or adopted by a government, or organization or pursuant to such an agreement.” The previous version of HB584 would have amended the UCC by changing the definition of money to exclude crypto such as Bitcoin, while enabling CBDCs. The latest version of HB584 appears to have removed the above definition of money, while still containing language about “electronic money” which could be in reference to CBDCs.
Contact your New Hampshire state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
New Jersey
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
A3007 Referred to Assembly Commerce & Economic Development Committees on February 28, 2023, S1825 referred to Senate Budget & Appropriations Committee on February 28, 2023, and A5294 referred to Assembly Commerce & Economic Development Committee on March 16, 2023. A3007, S1825, and A5294 exempt “sales of investment metal bullion and certain investment coins from sales and use tax.”
New Jersey currently has a sales tax of 6.875%.
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
A385 Referred to Assembly Science, Innovation and Technology Committee on January 11, 2023, and S3321 referred to Senate Commerce Committee on November 14, 2022. A385 and S3321 require the Department of the Treasury to “review and approve a viable blockchain-based, digital payment platform to provide payment services to legal and licensed businesses in this State that do not have access to traditional financial services and are forced to operate in cash-only or cash-heavy environments.”
A1975 Passed in Assembly in October 2022, referred to the Senate Commerce Committee on November 3, 2022, and S1267 referred to the Senate Commerce Committee on February 3, 2022. A1975 and S1267 establish the “Virtual Currency and Blockchain Regulation Act.”
A2371 and S1756 second reading in the Senate on January 19, 2023. A2371 and S1756 regulate digital assets through the “Digital Asset and Blockchain Technology Act.”
A3287 Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee on November 3, 2022. A3287 “prohibits public officials from accepting virtual currency and non-fungible tokens as gifts.”
A4355 Referred to Assembly Education Committee on June 20, 2022. A4355 “requires public high school students to receive financial literacy instruction on higher education costs, student financial assistance, and cryptocurrencies.”
Protecting Against CBDCs:
No recent legislation found.
Enabling CBDCs:
No recent legislation found.
Contact your New Jersey state representatives here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
New Mexico
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
No recent legislation found.
Instead of a sales tax, New Mexico imposes a gross receipts tax which is levied on businesses that may pass the tax on to the sale price of products.
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
HB165 Vetoed on March 17, 2023. HB165 would have amended the Uniform Unclaimed Property Act to include “virtual currency.”
Protecting Against CBDCs:
No recent found.
Enabling CBDCs:
HB90 Signed into law on April 5, 2023. HB90 amends the Uniform Commercial Code by defining money as “a medium of exchange currently authorized or adopted by a domestic or foreign government. The term includes a monetary unit of account established by an intergovernmental organization or by agreement between two or more countries. The term does not include an electronic record that is a medium of exchange recorded and transferable in a system that existed and operated for the medium of exchange before the medium of exchange was authorized or adopted by the government.” HB90 amends the UCC by changing the definition of money to exclude crypto such as Bitcoin, while enabling CBDCs. Furthermore, HB90 contains “electronic money” language in reference to CBDCs.
Contact your New Mexico state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
New York
Protecting the Use of Cash:
A00105 Pending in the Assembly Consumer Affairs & Protection Committee on April 25, 2023, and S00342 pending in the Senate Consumer Affairs & Protection Committee on January 4, 2023. A00105 “prohibits food-service and retail establishments from refusing to accept cash as payment for goods or services; calls for a civil fine if an establishment should refuse cash as payment.” S00342 “requires merchants to accept cash as payment for goods and services; permits the superintendent of financial services to provide exemptions based on certain criteria.”
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
New York State Department of Taxation and Finance states that “precious metal bullion sold for investment is exempt from state and local sales and compensating use taxes” when “certain specified conditions are met.” Precious metal bullion must be sold for more than $1,000 for the exemption to apply.
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
A00938 Referred to Assembly Science & Technology Committee on January 11, 2023, and S00360 referred to Senate Banks Committee on January 4, 2023. A00938 and S00360 require “certain disclosures by a developer of virtual tokens in advertisements involving such virtual tokens; provides restrictions concerning advertising.”
A00944 Referred to Assembly Codes Committee on January 11, 2023, and S00359 referred to Senate codes Committee on January 4, 2023. A00944 and S00359 establish “the offenses of virtual token fraud, illegal rug pulls, private key fraud and fraudulent failure to disclose interest in virtual tokens.”
A00954 Referred to Assembly Banks Committee on January 11, 2023, and S01891 referred to Assembly Banks Committee on May 15, 2023. A00954 and S01891 establish “the New York state cryptocurrency and blockchain study task force to provide the governor and the legislature with information on the effects of the widespread use of cryptocurrencies and other forms of digital currencies and their ancillary systems, including but not limited to blockchain technology, in the state.”
A02318 Referred to Assembly Science & Technology Committee on January 25, 2023. A02318 “requires certain disclosures in advertisements involving virtual tokens.
A02532 Referred to Assembly Governmental Operations Committee on January 26, 2023. A02532 “establishes that state agencies are allowed to accept cryptocurrencies such as bitcoin, ethereum, litecoin and bitcoin cash as payment.”
A02599 Referred to Assembly Governmental Operations Committee on January 26, 2023, and S06134 referred to Senate Finance Committee on March 30, 2023. A02599 and S06134 establish “a task force to study the impact of a state-issued cryptocurrency on the state of New York.”
A02676 Referred to Assembly Economic Development, Job Creation, Commerce & Industry Committee on January 26, 2023. A02676 “establishes a task force to study the potential designation of economic empowerment zones for the mining of cryptocurrencies in the state of New York.”
A02873 Referred to Senate Investigations & Government Operations Committee March 15, 2023, and S05621 advanced to 3rd reading on May 10, 2023. A02873 and S05621 relate “to reporting of cryptocurrency holdings on the annual statement of financial disclosure filed with the legislative ethics commission or the joint commission on public ethics.”
Protecting Against CBDCs:
No recent legislation found.
Enabling CBDCs:
No recent legislation found.
Contact your New York state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
North Carolina
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
North Carolina’s law H434 provides exemptions of “sales of non-coin currency, investment metal bullion, and other investment coins.”
Establishing a Gold Depository:
H721 Referred to House Appropriations Committee on April 19, 2023. H721 creates a “state precious metals depository study.”
Digital Currency:
H237 Referred to Rules & Operations of the Senate Committee on May 4, 2023. H237 amends criminal law related to money laundering and “digital currency.”
Protecting Against CBDCs:
H690 Referred to Rules & Operations of the Senate Committee on May 4, 2023. H690 is “an act to prohibit payments to the state using central bank digital currency or participation by the state in Federal Reserve branch testing of central bank digital currency.”
Enabling CBDCs:
No recent legislation found.
Contact your North Carolina state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
North Dakota
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
North Dakota’s tax code provides sales tax exemptions for precious metals stating, “Gross receipts from the sale of money, including all legal tender coins and currency, and from the sale of precious metal bullion that has been refined to a purity of not less than nine hundred ninety-nine parts per one thousand and is in such form or condition that its value depends upon its precious metal content and not its form.”
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
SB2119 Passed on March 16, 2023. SB2119 relates to licenses and regulations of “virtual-currency business activity.”
Protecting Against CBDCs:
HCR3036 Passed on April 19, 2023. HCR3036 is “a concurrent resolution urging Congress not to support legislation, or other efforts, relating to the adoption of a Central Bank Digital Currency in the United States.”
SB2392 Passed on April 21, 2023. SB2392 is “an act to amend… North Dakota Century Code, relating to the definition of deposit account… ’Deposit account’ means a demand, time, savings, passbook, or similar account maintained with a bank. The term does not include investment property, a United States central bank digital currency, or an account evidenced by a certificate of deposit or an instrument.”
Enabling CBDCs:
HB1082 Signed into law on March 20, 2023. HB1082 amends the Uniform Commercial Code by defining money as “a medium of exchange that is currently authorized or adopted by a domestic or foreign government. The term includes a monetary unit of account established by an intergovernmental organization, or by agreement between two or more countries. The term does not include an electronic record that is a medium of exchange recorded and transferable in a system that existed and operated for the medium of exchange before the medium of exchange was authorized or adopted by the government.” HB1082 amends the UCC by changing the definition of money to exclude crypto such as Bitcoin, while enabling CBDCs. Furthermore, HB1082 contains “electronic money” language in reference to CBDCs.
Contact your North Dakota state representatives here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Ohio
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
Ohio’s HB110 law in effect as of October 1, 2021, provides sales tax exemptions for “sales of investment metal bullion and investment coins.”
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
HB20 Referred to House Criminal Justice Committee on February 16, 2023. HB20 revises “code to enact the Ohio Computer Crimes Act,” including language regarding “digital assets.”
Protecting Against CBDCs:
HB155 Referred to the House Rules & Reference Committee on May 9, 2023, and HB163 referred to the House Financial Institutions Committee on May 2, 2023. HB155 and HB163 amend the Uniform Commercial Code “to exclude central bank digital currencies from being treated as money under the Ohio Uniform Commercial Code.” Other states have introduced or passed legislation to amend the UCC in which the definition of money is changed to exclude crypto such as Bitcoin, while enabling a CBDC.
Enabling CBDCs:
No recent legislation found.
Contact your Ohio state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Oklahoma
Protecting the Use of Cash:
HB1633 Passed in the House on March 23, 2023, referred to Senate Finance Committee on April 3, 2023. HB1633 states “an agency shall not require any citizen of this state in conducting transactions with the agency to pay using credit cards nor a central bank digital currency and shall not prohibit cash” and “businesses providing basic needs selling or offering for sale goods or services during regular business hours shall not require a buyer to pay using credit cards nor a central bank digital currency nor prohibit the use of cash, cashier’s checks, or money orders as payment in order to purchase the goods or services.”
Recognizing Gold & Silver as Legal Tender:
Oklahoma’s SB862 law affirms gold and silver as legal tender stating “gold and silver coins issued by the United States government are legal tender in the State of Oklahoma. No person may compel another person to tender or accept gold or silver coins that are issued by the United States government, except as agreed upon by contract.”
Removing Taxes on Gold & Silver Transactions:
Oklahoma’s SB862 law provides sales tax exemptions stating “sales of gold, silver, platinum, palladium or other bullion items such as coins and bars and legal tender of any nation, which legal tender is sold according to its value as precious metal or as an investment” are exempt.
Establishing a Gold Depository:
SB816 Pending in the Senate Finance Committee on March 20, 2023. SB816 states “the Oklahoma Bullion Depository shall be established as a division in the Office of the State Treasurer.”
Digital Currency:
HB1600 Passed in the Senate on April 24, 2023, in conference in the House on May 15, 2023, and SB750 passed in the House on April 27, 2023, in conference in the Senate on May 15, 2023. HB1600 relates to sales tax exemptions for “digital asset mining.” SB750 provides sales tax exemptions for “commercial mining of digital assets.”
SB443 Referred to the Energy & Telecommunications Committee on February 7, 2023. SB443 establishes “an Orphaned Well Bitcoin Mining Partnership Program” that would “partner with Bitcoin mining companies, who shall assume the liability of plugging, remediating, or reclaiming an orphaned well in return for temporary control of the energy from the well.”
Protecting Against CBDCs:
HB1633 Referred to Senate Finance Committee on April 3, 2023. HB1633 states “an agency shall not require any citizen of this state in conducting transactions with the agency to pay using credit cards nor a central bank digital currency and shall not prohibit cash” and “businesses providing basic needs selling or offering for sale goods or services during regular business hours shall not require a buyer to pay using credit cards nor a central bank digital currency nor prohibit the use of cash, cashier’s checks, or money orders as payment in order to purchase the goods or services.”
Enabling CBDCs:
HB2776 Withdrawn from calendar, referred to House Rules Committee on March 20, 2023. HB2776 amends the Uniform Commercial Code to define money as “a medium of exchange that is authorized or adopted by a domestic or foreign government. The term includes a monetary unit of account established by an intergovernmental organization or by agreement between two or more countries. The term does not include an electronic record that is a medium of exchange recorded and transferable in a system that existed and operated for the medium of exchange before the medium of exchange was authorized or adopted by the government.” HB2776 would amend the UCC by changing the definition of money to exclude crypto such as Bitcoin, while enabling CBDCs.
Contact your Oklahoma state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Oregon
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
HB3192 Informational meeting held in the House on March 2, 2023. HB3192 “exempts receipts from sales of precious metals from commercial activity subject to corporate activity tax.”
Oregon does not have “general sales or use/transaction tax.”
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
HB2816 Public hearing in the House on March 20, 2023. HB2816 establishes new provisions related to “high energy use facilities,” greenhouse gas emissions, and cryptocurrency mining.
Protecting Against CBDCs:
No recent legislation found.
Enabling CBDCs:
No recent legislation found.
Contact your Oregon state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Pennsylvania
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
Pennsylvania law provides exclusions for “the sale at retail or use of investment metal bullion and investment coins.”
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
HB407 Referred to House Commerce Committee on March 14, 2023. HB407 is “an act establishing a task force on digital currency and the impact on widespread use of cryptocurrency and other forms of digital currencies in this Commonwealth.”
HB901 Referred to House Commerce Committee on April 12, 2023. HB901 is a bill related to licensing and regulations for “digital asset business activity” and blockchain technology.
SB356 Referred to Senate State Government Committee on February 21, 2023. SB356 relates to ethics standards and financial disclosures of “virtual currency” in reference to public officers and political campaigns.
Protecting Against CBDCs:
No recent legislation found.
Enabling CBDCs:
No recent legislation found.
Contact your Pennsylvania state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Rhode Island
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
Rhode Island law provides an exemption “from the sale and from the storage, use, or other consumption in this state of precious metal bullion.”
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
H5533 House Committee recommended measure be held for further study on March 17, 2023, and S0696 Senate Committee recommended measure be held for further study on April 25, 2023. H5533 and S0696 amend “outdated provisions of the banking statutes and the home loan protection act, adds consumer protections, including minimum capital requirements and limits on investments, for currency transmitters, including cryptocurrency.”
H5836 House Committee recommended measure be held for further study on April 5, 2023. H5836 “establishes an economic growth blockchain act, which would regulate virtual and digital assets, and establishes depository banks for these purposes.”
Protecting Against CBDCs:
No recent legislation found.
Enabling CBDCs:
H5543 House Committee recommended measure be held for further study on March 17, 2023, and S0820 Senate Committee recommended measure be held for further study on May 11, 2023. H5543 and S0820 would amend the Uniform Commercial Code to define money as “a medium of exchange that is currently authorized or adopted by a domestic or foreign government. The term includes a monetary unit of account established by an intergovernmental organization or by agreement between two (2) or more countries. The term “money” does not include an electronic record that is a medium of exchange recorded and transferable in a system that existed and operated for the medium of exchange before the medium of exchange was authorized or adopted by the government.” H5543 and S0820 would amend the UCC by changing the definition of money to exclude crypto such as Bitcoin, while enabling CBDCs.
Contact your Rhode Island state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
South Carolina
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
H3080 Pending in House Judiciary Committee on April 26, 2023. H3080 provides “that gold and silver coins minted foreign or domestic shall be legal tender in this state,” and “that no person may compel another person to tender or accept gold or silver coins unless agreed upon by the parties.”
Removing Taxes on Gold & Silver Transactions:
H3081 Pending in House Ways & Means Committee on January 12, 2023. H3081 amends capital gains tax to provide exceptions for “the portion of the capital gain that was recognized from the sale of gold, silver, platinum bullion, or any combination of this bullion, for which the deduction equals one hundred percent of such capital gain.”
South Carolina Code of Laws provides sales tax exemptions for (a) gold, silver, or platinum bullion, or any combination of this bullion; (b) coins that are or have been legal tender in the United States or other jurisdiction; and (c) currency.”
Establishing a Gold Depository:
No recent legislation found.
Protecting Against CBDCs:
H4373 and H4442 Pending in the House Labor, Commerce & Industry Committee on May 9, 2023. H4373 and H4442 amend the Uniform Commercial Code to define money as “a medium of exchange currently authorized or adopted by a domestic or foreign government. The term includes a monetary unit of account established by an intergovernmental organization or by agreement between two or more countries. The term does not include a central bank digital currency.” Furthermore, H4373 states the bill is designed to “prohibit a banking corporation from offering any service or approving of or conducting any transaction that involves central bank digital currency.” Other states have introduced or passed legislation to amend the UCC in which the definition of money is changed to exclude crypto such as Bitcoin, while enabling a CBDC.
Enabling CBDCs:
No recent legislation found.
Contact your South Carolina state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
South Dakota
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
South Dakota law provides sales tax exemptions stating, “There are hereby specifically exempted from the provisions of this chapter and from the computation of the amount of tax imposed by it, gross receipts from the sale of coins, currency, or bullion.”
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
SB43 Signed into law on February 3, 2023. SB43 revises provisions on money transmission including “virtual currencies.”
Protecting Against CBDCs:
No recent legislation found.
Enabling CBDCs:
HB1193 Vetoed by governor on March 27, 2023. HB1193 would have amended the Uniform Commercial Code to define money as “a medium of exchange that is currently authorized or adopted by a domestic or foreign government. The term includes a monetary unit of account established by an intergovernmental organization or by agreement between two or more countries. The term does not include an electronic record that is a medium of exchange recorded and transferable in a system that existed and operated for the medium of exchange before the medium of exchange was authorized or adopted by the government.” HB1193 would have amended the UCC by changing the definition of money to exclude crypto such as Bitcoin, while enabling CBDCs. Other states have introduced or passed legislation to amend the UCC using the same “electronic money” language.
Contact your South Dakota state representatives here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Tennessee
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
HB1481 Returned to the House Clerk’s Desk on April 18, 2023, and SB0311 deferred to summer study on March 28, 2023. HB1481 and SB0311 make “gold and silver coinage legal tender” and authorize “payment of taxes with gold and silver coinage.” The bills also require that “any gold and silver coinage received by this state… must be stored in a depository institution and the value of the gold and silver coinage must be attributed to the balance of the reserve for revenue fluctuations. The gold and silver coinage must not be liquidated until all other funds in the reserve for revenue fluctuations have been expended.”
Removing Taxes on Gold & Silver Transactions:
Tennessee’s HB1874 and SB1857 were signed into law in June 2022, exempting precious metal coins, currency, and bullion from sales tax.
Establishing a Gold Depository:
SB0150 Assigned to General Subcommittee of Senate Commerce and Labor Committee on March 14, 2023. SB0150 enacts the “Tennessee Bullion Depository Act.”
HB1481 Returned to the House Clerk’s Desk on April 18, 2023, and SB0311 deferred to summer study on March 28, 2023. HB1481 and SB0311 make “gold and silver coinage legal tender” and authorize “payment of taxes with gold and silver coinage.” The bills also require that “any gold and silver coinage received by this state… must be stored in a depository institution and the value of the gold and silver coinage must be attributed to the balance of the reserve for revenue fluctuations. The gold and silver coinage must not be liquidated until all other funds in the reserve for revenue fluctuations have been expended.”
SB0519 and HB1479 Passed on March 28, 2023. SB0519 and HB1479 allow “the state treasurer to purchase and sell physical gold and precious metal.”
Digital Currency:
No recent legislation found.
Protecting Against CBDCs:
No search results found.
Enabling CBDCs:
HB0640 was deferred to the Senate’s SB0479 and on March 14, 2023, Senate Commerce & Labor Committee deferred it to first calendar of 2024. SB0479 amends the Uniform Commercial Code definition of money to state that “the term does not include an electronic record that is a medium of exchange recorded and transferable in a system that existed and operated for the medium of exchange before the medium of exchange was authorized or adopted by the government.” SB0479 would amend the UCC by changing the definition of money to exclude crypto such as Bitcoin, while enabling CBDCs. Other states have introduced or passed legislation to amend the UCC using the same “electronic money” language.
Contact your Tennessee state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Texas
Protecting the Use of Cash:
HJR146 Referred to Senate Business & Commerce Committee on May 11, 2023, and SJR67 pending in Senate Business & Commerce Committee on March 21, 2023. HJR146 and SJR67 propose a constitutional amendment to state that “the right of the people to own, hold, and use a mutually agreed upon medium of exchange, including cash, coin, bullion, digital currency or privately issued scrip, when trading and contracting for goods and services shall not be infringed. No government shall prohibit or encumber the ownership or holding of any form or amount of any form or amount of money or other currency. Nothing in this section shall be construed as restricting this state from choosing the medium of exchange the state will accept for payments made to the state.”
Recognizing Gold & Silver as Legal Tender:
SB1558 Referred to Senate Finance Committee on March 16, 2023. SB1558 is an act “relating to the use of certain gold or silver bullion or specie as legal tender and an exemption from sales and use taxes for certain items containing certain precious metals.”
HJR146 Referred to Senate Business & Commerce Committee on May 11, 2023, and SJR67 pending in Senate Business & Commerce Committee on March 21, 2023. HJR146 and SJR67 propose a constitutional amendment to state that “the right of the people to own, hold, and use a mutually agreed upon medium of exchange, including cash, coin, bullion, digital currency or privately issued scrip, when trading and contracting for goods and services shall not be infringed. No government shall prohibit or encumber the ownership or holding of any form or amount of any form or amount of money or other currency. Nothing in this section shall be construed as restricting this state from choosing the medium of exchange the state will accept for payments made to the state.”
Removing Taxes on Gold & Silver Transactions:
SB1558 Referred to Senate Finance Committee on March 16, 2023. SB1558 is an act “relating to the use of certain gold or silver bullion or specie as legal tender and an exemption from sales and use taxes for certain items containing certain precious metals.”
Texas’ HB78 passed in 2013 to exempt “the sale of gold, silver, or numismatic coins or of platinum, gold or silver bullion” from sales tax.
Establishing a Gold Depository:
HB4305 Referred to House Pension, Investments & Finance Committee on March 21, 2023. HB4305 relates “to purchasing gold and silver bullion for this state to hold in the Texas Bullion Depository.”
HB483 was signed into law in June 2015 to establish “the nation’s first” state bullion depository known as the “Texas Bullion Depository.”
HB4903 Placed on General State Calendar on May 11, 2023, and SB2334 pending in Senate Finance Committee on May 8, 2023. HB4903 and SB2334 relate “to the establishment of a digital currency backed by gold” which can be redeemed for “troy ounces of gold from the pooled depository account” in reference to the Texas Bullion Depository.
Digital Currency:
HB1666 Passed in the House on April 20, 2023, amended and passed in the Senate on May 15, 2023, and SB770 pending in Senate Business & Commerce Committee on April 13, 2023. HB1666 and SB770 relate to regulations of “digital asset service providers” and commingling of funds.
HB1942 Passed in the House on May 11, 2023, received in the Senate on May 12, 2023, and SB715 referred to Senate State Affairs Committee on March 1, 2023. HB1942 and SB715 regulate “sports wagering, requires permits, imposes taxes, and decriminalizes wagering on certain sports events.” Cash equivalents approved for use in sports wagering include “digital and virtual currencies and cryptocurrencies.”
HB2223 Referred to House Ways & Means Committee on March 9, 2023. HB2223 relates “to the temporary exemption of certain tangible personal property related to virtual currency mines from sales and use taxes.”
HB2690 Referred to House State Affairs Committee on March 13, 2023. HB2690 relates to criminal offenses of “abortion funds” that have been “funding and otherwise aiding or abetting criminal abortions performed in violation of the law of this state.” Computer services facilitating elective abortions by providing aid in the form of digital currency are included.
HB3573 Pending in House Pensions, Investments & Financial Services Committee on March 29, 2023, and SB895 passed in the Senate on March 30, 2023, and passed in the House on May 16, 2023. HB3573 and SB895 relate “to modernizing the regulation of money services businesses” and includes stablecoin under the definitions of “money” or “monetary value.”
HB3768 Passed in the House on May 12, 2023, referred to Senate Business & Commerce Committee on May 16, 2023. HB3768 amends the Business Organizations Code “relating to the formation of decentralized unincorporated associations and the use of distributed ledger or blockchain technology for certain business purposes.”
HB4278 Referred to House Energy & Resources Committee on March 21, 2023. HB4278 relates “to the establishment by the Railroad Commission of Texas of the orphaned well Bitcoin mining partnership program.”
HB4903 Placed on General State Calendar on May 11, 2023, and SB2334 pending in Senate Finance Committee on May 8, 2023. HB4903 and SB2334 relate “to the establishment of a digital currency backed by gold” which can be redeemed for “troy ounces of gold from the pooled depository account” in reference to the Texas Bullion Depository.
HCR89 Referred to House State Affairs Committee on March 22, 2023. HCR89 expresses “support for the Bitcoin economy in Texas.”
HJR146 Referred to Senate Business & Commerce Committee on May 11, 2023, and SJR67 pending in Senate Business & Commerce Committee on March 21, 2023. HJR146 and SJR67 propose a constitutional amendment to state that “the right of the people to own, hold, and use a mutually agreed upon medium of exchange, including cash, coin, bullion, digital currency or privately issued scrip, when trading and contracting for goods and services shall not be infringed. No government shall prohibit or encumber the ownership or holding of any form or amount of any form or amount of money or other currency. Nothing in this section shall be construed as restricting this state from choosing the medium of exchange the state will accept for payments made to the state.”
SB1461 Referred to Senate Business & Commerce Committee on March 16, 2023. SB1461 relates to “regulation of online global marketplaces” and includes “virtual currency.”
SB1751 Passed in Senate on April 12, 2023, referred to House State Affairs Committee on April 24, 2023. SB1751 relates “to the regulation and tax treatment of facilities in the ERCOT power region” and “virtual currency mining” facilities.
Protecting Against CBDCs:
HCR88 Referred to House State Affairs Committee on March 20, 2023, and SCR25 passed in Senate on May 10, 2023, and referred to House State Affairs Committee on May 12, 2023. HCR88 and SCR25 express “opposition to the creation of a central bank digital currency.”
Enabling CBDCs:
HB5011 Referred to House Business & Industry Committee on March 23, 2023, and SB2075 referred to Senate Business & Commerce Committee on March 21, 2023. HB5011 and SB2075 amend the Uniform Commercial Code by defining money as “a medium of exchange that is currently authorized or adopted by a domestic or foreign government. The term includes a monetary unit of account established by an intergovernmental organization, or pursuant to an agreement between two or more countries. The term does not include an electronic record that is a medium of exchange recorded and transferable in a system that existed and operated for the medium of exchange before the medium of exchange was authorized or adopted by the government.” HB5011 and SB2075 would amend the UCC by changing the definition of money to exclude crypto such as Bitcoin, while enabling CBDCs.
Contact your Texas state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Utah
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
Utah’s HB317 passed in 2011 “recognizes gold and silver coins that are issued by the federal government as legal tender in the state and exempts the exchange of the coins from certain types of state tax liability.”
Removing Taxes on Gold & Silver Transactions:
Utah law provides sales tax exemptions for “sales of currency or coins that constitute legal tender of a state, the United States, or a foreign nation” as well as “gold, silver, or platinum ingots, bars, medallions, and decorative coins…if (1), the item does not constitute legal tender of a state, the United states, or a foreign nation; and (2), the item has a gold, silver, or platinum content of 50% or more.”
HB268 Passed in 2022 also affirms sales tax exemptions for precious metals.
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
HB0216 Signed into law on March 20, 2023. HB0216 establishes the Business and Chancery Court which provides jurisdiction over “a dispute over a blockchain, blockchain technology, or a decentralized autonomous organization.”
HB0357 Passed on March 13, 2023. HB0357 “allows a decentralized autonomous organization that has not registered as a for-profit corporate entity or a non-profit entity to be treated as the legal equivalent of a domestic limited liability company.”
Protecting Against CBDCs:
No recent legislation found.
Enabling CBDCs:
No recent legislation found.
Contact your Utah state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Vermont
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
H0295 Referred to House Ways & Means Committee on February 21, 2023. H0295 is an act “relating to a sales tax exemption for precious metals sold for investment.”
In Vermont, precious metals are currently subject to a 6% sales tax.
Establishing a Gold Depository:
No recent legislation found.
Protecting Against CBDCs:
No recent legislation found.
Enabling CBDCs:
No recent legislation found.
Contact your Vermont state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Virginia
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
HB936 Signed into law on April 11, 2022. HB936 provides sales tax exemptions for “gold, silver, or platinum bullion or legal tender coins” and removes the prior sales tax on precious metal purchases under $1,000.
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
HB1727 Passed on March 23, 2023. HB1727 “permits a credit union in the Commonwealth to engage in virtual currency custody services.”
HB1784 Passed in the House on February 7, 2023, passed by indefinitely in Commerce and Labor in the Senate on February 20, 2023. HB1784 “creates a regulatory framework for decentralized autonomous organizations” and “provides an exemption from securities registration requirements for issuers or sellers of digital tokens.”
Protecting Against CBDCs:
No recent legislation found.
Enabling CBDCs:
No recent legislation found.
Contact your Virginia state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Washington
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
Washington Code provides sales tax exemptions stating “amounts derived from sales of precious metal bullion and monetized bullion as defined herein, are not subject to business and occupation tax under either the wholesaling or retailing classification or to retail sales tax.”
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
No recent legislation found.
Protecting Against CBDCs:
No recent legislation found.
Enabling CBDCs:
SB5077 Passed on May 4, 2023. SB5077 amends the Uniform Commercial Code by defining money as “a medium of exchange that is currently authorized or adopted by a domestic or foreign government. The term includes a monetary unit of account established by an intergovernmental organization or by agreement between two or more countries. The term does not include an electronic record that is a medium of exchange recorded and transferable in a system that existed and operated for the medium of exchange before the medium of exchange was authorized or adopted by the government.” SB5077 amends the UCC by changing the definition of money to exclude crypto such as Bitcoin, while enabling CBDCs. Furthermore, SB5077 contains “electronic money” language in reference to CBDCs.
Contact your Washington state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
West Virginia
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
HB2333 Died in committee on January 11, 2023. HB2333 would have created “the Legal Tender Act,” to “establish gold and silver as legal tender in West Virginia, and to allow for tax credits for capital gains when gold and silver are used.”
Removing Taxes on Gold & Silver Transactions:
HB2333 Died in committee on January 11, 2023. HB2333 would have created “the Legal Tender Act,” to “establish gold and silver as legal tender in West Virginia, and to allow for tax credits for capital gains when gold and silver are used.”
SB502 Signed into law in March 2019 provides sales tax exemptions stating, “the sale of investment metal bullion or investment coins… are exempted.”
Establishing a Gold Depository:
HB3140 Died in committee on January 30, 2023. HB3140 would have empowered “the Treasurer to invest in gold and silver.”
Protecting Against CBDCs:
No recent legislation found.
Enabling CBDCs:
HB3212 Referred to House Judiciary Committee on February 2, 2023, and SB549 died in Senate Judiciary Committee on February 2, 2023. HB3212 and SB549 would amend the Uniform Commercial Code by defining money as “a medium of exchange currently authorized or adopted by a domestic or foreign government. The term includes a monetary unit of account established by an intergovernmental organization or by agreement between two or more countries. The term does not include an electronic record that is a medium of exchange recorded and transferrable in a system that existed and operated for the medium of exchange before the medium of exchange was authorized or adopted by the government.” HB3212 and SB549 would amend the UCC by changing the definition of money to exclude crypto such as Bitcoin, while enabling CBDCs. Furthermore, HB3212 and SB549 contain “electronic money” language in reference to CBDCs.
Contact your West Virginia state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Wisconsin
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
No recent legislation found.
Removing Taxes on Gold & Silver Transactions:
AB29 Pending in House Ways & Means Committee on February 16, 2023, and SB33 pending in Senate Universities & Revenue Committee on February 13, 2023. AB29 and SB33 would create “a sales and use tax exemption for precious metal bullion. The bill defines ‘precious metal bullion’ as coins, bars, rounds, or sheets that contain at least 35 percent gold, silver, copper, platinum, or palladium.”
Wisconsin’s current law does not provide sales tax exemptions, as it defines “silver bullion and gold bullion” and “coins… when sold or traded as collectors’ items above their face value” as tangible property subject to sales tax.
Establishing a Gold Depository:
No recent legislation found.
Digital Currency:
No recent legislation found.
Protecting Against CBDCs:
No recent legislation found.
Enabling CBDCs:
No recent legislation found.
Contact your Wisconsin state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Wyoming
Protecting the Use of Cash:
No recent legislation found.
Recognizing Gold & Silver as Legal Tender:
SF0101 Died in chamber on February 2, 2023. SF0101 would have amended the “Wyoming Legal Tender Act” to require “the state treasurer to provide for the payment of mineral taxes by specie or specie legal tender; requiring the state treasurer to determine and provide exchange rates for specie and specie legal tender; requiring the state treasurer to exchange specie and specie legal tender for other legal tender currencies; requiring the state treasurer to hold and invest specie and specie legal tender.”
HB0103 Passed in 2018 to establish the “Wyoming Legal Tender Act” which defines “specie” as coins with gold and silver content and states “specie legal tender in Wyoming shall consist of: (i) specie coin issued by the United States government at any time; (ii) specie coin issued by any foreign government at any time; (iii) any other specie that a federal court of competent jurisdiction, by final and unappealable order, rules to be within state authority to make or designate as legal tender. No court of the state of Wyoming shall be deemed to be a court of competent jurisdiction for purposes of this paragraph.”
Removing Taxes on Gold & Silver Transactions:
HB0103 Passed in 2018 to establish the “Wyoming Legal Tender Act” which states “no specie or specie legal tender shall be characterized as personal property for the purposes of property taxation,” and “the exchange of one type or form of legal tender for another type or form of legal tender shall not give rise to any tax liability of any kind,” as well as “the purchase, sale, or exchange of any type or form of specie or specie legal tender shall not give rise to any tax liability of any kind.”
Establishing a Gold Depository:
SF0101 Died in chamber on February 2, 2023. SF0101 would have amended the “Wyoming Legal Tender Act” to require “the state treasurer to provide for the payment of mineral taxes by specie or specie legal tender; requiring the state treasurer to determine and provide exchange rates for specie and specie legal tender; requiring the state treasurer to exchange specie and specie legal tender for other legal tender currencies; requiring the state treasurer to hold and invest specie and specie legal tender.”
Digital Currency:
HB0086 Passed on February 21, 2023. HB0086 states “no person shall be compelled to produce a private key or make a private key known to any other person in any civil, criminal, administrative, legislative or other proceeding in this state that relates to a digital asset, digital identity or other interest or right to which the private key provides access unless a public key is unavailable or unable to disclose the requisite information with respect to the digital asset, digital identity or other interest or right.”
SF0075 Passed on February 27, 2023. SB0075 amends “statutory provisions regulating decentralized autonomous organizations.”
SF0076 Passed on March 9, 2023. SF0076 is an act relating to the “registration of digital assets with the secretary of state.”
SF0127 Passed on March 17, 2023. SF0127 creates “the Wyoming Stable Token Act” and “the Wyoming stable token commission” as well as authorizes “the Wyoming stable token commission to issue Wyoming stable tokens.”
Protecting Against CBDCs:
No recent legislation found.
Enabling CBDCs:
No recent legislation found.
Contact your Wyoming state representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
U.S. Congress
Protecting the Use of Cash:
HR341 Referred to the House Committee on Financial Services on April 28, 2023. HR341 expresses “the sense of the House of Representatives that it is important to maintain cash as a robust and viable payment option.”
Gold Standard:
HR2435 Referred to the House Committee on Financial Services on March 30, 2023. HR2435 establishes the “Gold Standard Restoration Act” requiring “the Department of the Treasury to define the Federal Reserve note dollar in terms of a fixed weight of gold, based on that day’s closing market price of gold. Federal Reserve Banks must exchange Federal Reserve notes with gold at this price and create processes to facilitate exchanges between banks and the public. If a Federal Reserve Bank does not do this, Treasury must make any exchange and place a corresponding lien on the assets of that bank.”
Protecting Against CBDCs:
SB967 Referred to the Senate Committee on Banking, Housing, and Urban Affairs on March 23, 2023. SB967 establishes the “No Central Bank Digital Currency Act” to “amend the Federal Reserve Act to limit the ability of Federal Reserve banks to issue central bank digital currency.”
HB1122 Referred to the House Committee on Financial Services on February 21, 2023, and SB887 referred to the Committee on Banking, Housing, and Urban Affairs on March 21, 2023. HB1122 and SB887 amend the “Federal Reserve Act to prohibit the Federal reserve banks from offering certain products or services directly to an individual, to prohibit the use of central bank digital currency for monetary policy, and for other purposes.”
HB804 Referred to the House Committee on Financial Services on February 2, 2023. HB804 prohibits “money services businesses from engaging in any transaction that involves a central bank digital currency issued by the People’s Republic of China, and for other purposes.”
Enabling CBDCs:
HB556 Referred to the House Committee on Financial Services on January 26, 2023. HB556 seeks to enact the “21st Century Dollar Act” in relation to supporting “the role of the United States dollar as the primary global reserve currency” through a national strategy including the development of an “official digital currency by the United States.”
Contact your Congressional representatives here and here and urge them to take immediate action on key pieces of legislation to secure your financial freedom.
Additional Resources
The Rise & Risks of Central Bank Digital Currencies – Corey’s Digs
Laundering with Immunity: The Control Framework – Part 1 – Corey’s Digs
Nullify Unconstitutional Federal Spending – The John Birch Society
Why a Sovereign State Bank is Good for Tennessee – The Solari Report
Special Solari Report: Free in Tennessee: Kicking Tyranny to the Curb – The Solari Report
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