Missouri is banning central bank digital currencies (CBDCs) and promoting the use of precious metals in its financial system. Senate Bill (SB) 194, presented by Senator Rick Brattin on December 1, prohibits public agencies from accepting or testing CBDCs.
The legislation proposes redefining “money” under Missouri’s Uniform Commercial Code to exclude CBDCs. The legislation mandates the storage of at least 1% of the state’s funds in physical gold and silver, thereby designating these metals as legal money. With tax breaks on capital gains and sales, this change encourages the use of these metals for transactions at their market value.
In addition to prohibiting CBDCs, the measure expressly bars involvement in federal projects designed to test digital currency. Supporters of the initiative express concern about government control and privacy erosion, highlighting the need for state-level financial sovereignty.
This legislative attempt builds on Missouri’s history of anti-CBDC initiatives, which include numerous bills presented earlier this year. While some failed to gain traction, the renewed emphasis demonstrates the state’s dedication to protecting financial privacy and encouraging reliable, decentralized alternatives to nationally issued digital currencies.
Missouri seeks to increase its economic independence by adding gold and silver into its financial structure. If passed, SB 194 might position the state as a leader in opposing centralized digital monetary systems and advocating for actual assets.
