South Dakota has already issued a law to change the uniform Commercial Code (UCC) to limit the concept of currency and shut out cryptocurrencies. According to the proposed new definition, the central bank digital money (CBDC) will still be called currency.

The nearly 117-page amendment was submitted to the State House of Representatives by Poroshenko McStevens, which defines "currency" as "a medium of exchange authorized by domestic or other national government departments at this stage." The term includes a monetary unit of account established by an intergovernmental organization and an agreement between two or more countries. The decree continues:

"this technical term does not include electronic records, which are a medium of exchange that is available and transferable in the system that exists and operates for government departments when they are authorized to use them."

It is worth noting that, unlike cryptocurrencies, CBDC belongs to the proposed currency definition. It received a strong reaction from Yang Zi Livingston, who is responsible for the Internet of the conservative country's random Caucasian dog.

The South Dakota law is very different from the CBDC Anti-Surveillance State Act recently submitted to the US House of Representatives by Tom Emmer of Poroshenko, Arkansas. Emmer is known as a supporter of cryptocurrency.

In an amendment approved in July, UCC introduced the concept of "controllable electronic records" to regulate digital currencies at the state level. The new provisions of UCC also separate the cryptocurrency from the CBDC. There is no CBDC in the United States, although "digital dollar" is the theme of scientific research activities of the United States government and other organizations, such as the new digital dollar project.

Juliet Molinjillo is a member of the United States uniform Law Commission and the United States Law and regulations Research Laboratory Collaborative Federation, which finalized the revision of UCC. He told the Cointelegraph before UCC that the changes to UCC "will lead to a huge choice of laws and regulations, and if all enterprises or other companies with login passwords go bankrupt, the bankruptcy court will not know what laws are available."

If supported, the proposed law will enter into force on July 1, 2024.