HB415 would amend sections of state law regarding bank deposits to prevent the inclusion of a “central bank digital currency.”
The Senate passed the HB415 on June 5, 2023, by a vote of 33 to 6, prior to it being vetoed by the Governor. We have assigned pluses to the yeas because this bill seeks to preempt the use of a Central Bank Digital Currency (CBDC)—the potential of which presents a significant danger to Americans’ civil liberties. Not only would a CBDC be a blatantly unconstitutional and intolerable expansion of tyranny under the Federal Reserve, but according to Article 1, Section 10, of the U.S. Constitution, “No State shall…make any Thing but gold and silver Coin a Tender in Payment of Debts.” States can and must act now to avow their adherence to constitutionally sound money.