SB180 prohibits any state or state agency from accepting or requiring payment in a central bank digital currency (CBDC) for services, taxes, licenses, permits, fees, information, or any other amounts due. It also prohibits state agencies from advocating for or supporting the testing, adoption, or implementation of a CBDC by the U.S. government.
The Indiana State House of Representatives passed SB180 on February 27, 2024 by a vote of 83 to 11. We have assigned pluses to the ayes because Article I, Sections 8 and 10 of the U.S. Constitution state that only Congress has the power to coin money. States should take steps to return to the gold standard and embrace the use of real money. Digital currency can be easily tracked, allowing the government to monitor all financial transactions. This could lead to unconstitutional and extensive surveillance of individuals’ financial activities, eroding personal privacy and potentially freezing assets, which is already happening in other countries.