Missouri is Trying to Ban a Digital Currency Before It’s Too Late

I don't think there's any escaping digital currency being a part of our lives in some form, but Missouri is taking action now to ban a certain type of digital currency before it's too late.

I saw MSN share today a story that originated from the Coin Telegraph. They say that Missouri Senator Rick Brattin pre-filed Senate Bill (SB) 194 on the 1st of December 2024. They state that the Missouri Senate Bill wants to "prohibit public entities from accepting a CBDC or participating in any testing of a CBDC".

What is a CBDC anyway?

In short, a CBDC is a central bank digital currency. Missouri doesn't want any part of that. The state is trying to ban a digital currency being made the standard or even being involved with a test of it being the bottom line for exchange of wealth.

The bill in the Missouri Senate wants to make silver and gold the financial standard for the state.

Missouri appears to be setting up a stronghold to subvert any future national attempt at making a digital currency like Bitcoin become the method for citizens to have to pay for goods and services. Some fear that a central digital currency of this type would give too much power to a national government and weakening privacy rights within the state.

Time will tell which effort regarding money prevails.