Amends TCA Title 47.
ON MARCH 25, 2024, THE SENATE ADOPTED AMENDMENT #1 AND PASSED SENATE BILL 2219, AS AMENDED.<br /> <br /> AMENDMENT #1 makes the following changes to the bill:<br /> <br /> (1) Revises the definition of "central bank digital currency" to, instead, mean a digital currency, digital medium of exchange, or digital monetary unit of account issued by the federal reserve or another federal agency, a foreign government, a foreign central bank, a foreign reserve system, the Bank for International Settlement, the International Monetary Fund, the World Bank, or another international or intergovernmental body and includes a digital currency, digital medium of exchange, or digital monetary unit of account issued by the federal reserve or another federal agency, a foreign government, a foreign central bank, a foreign reserve system, the Bank for International Settlement, the International Monetary Fund, the World Bank, or another international or intergovernmental body that is processed or validated directly by the entity; and<br /> <br /> (2) Revises the definition of "deposit account" in the present law regarding secured transactions. As used in the present law relevant to secured transactions, "deposit account" means a demand, time, savings, passbook, or similar account maintained with a bank. However, the term does not include investment property or accounts evidenced by an instrument. This amendment adds to the present law by clarifying that "deposit account" also does not include a central bank digital currency or an account evidenced by a certificate of deposit.<br />
ON MARCH 25, 2024, THE SENATE ADOPTED AMENDMENT #1 AND PASSED SENATE BILL 2219, AS AMENDED.<br /> <br /> AMENDMENT #1 makes the following changes to the bill:<br /> <br /> (1) Revises the definition of "central bank digital currency" to, instead, mean a digital currency, digital medium of exchange, or digital monetary unit of account issued by the federal reserve or another federal agency, a foreign government, a foreign central bank, a foreign reserve system, the Bank for International Settlement, the International Monetary Fund, the World Bank, or another international or intergovernmental body and includes a digital currency, digital medium of exchange, or digital monetary unit of account issued by the federal reserve or another federal agency, a foreign government, a foreign central bank, a foreign reserve system, the Bank for International Settlement, the International Monetary Fund, the World Bank, or another international or intergovernmental body that is processed or validated directly by the entity; and<br /> <br /> (2) Revises the definition of "deposit account" in the present law regarding secured transactions. As used in the present law relevant to secured transactions, "deposit account" means a demand, time, savings, passbook, or similar account maintained with a bank. However, the term does not include investment property or accounts evidenced by an instrument. This amendment adds to the present law by clarifying that "deposit account" also does not include a central bank digital currency or an account evidenced by a certificate of deposit.<br />
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