According to the proposal, central bank digital currencies would be treated the same as fiat currency. Under the bill, “money” would be defined as “a medium of exchange that is currently authorized or adopted by a domestic or foreign government. The term includes a monetary unit of account established by an intergovernmental organization or by agreement between two or more countries.”
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S.D. Lawmaker Wants to Ban Crypto As Medium of Exchange
Mike Stevens, a representative in the South Dakota state Legislature, is proposing a bill that would exclude cryptocurrency from the definition of money. So reports Cointelegraph.
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