§ 41-1-13 — Use of Central Bank Digital Currency

Alabama § 41-1-13

• Jurisdiction: Alabama
• Title 41: State Government
• Ch. 1: General Provisions
• Art. 1: In General

Text

(a) As used in this section, the following terms have the following meanings:
(1) CENTRAL BANK DIGITAL CURRENCY. A digital currency, a digital medium of exchange, or a digital monetary unit of account issued by the United States Federal Reserve System or a federal agency which is made directly available to a consumer by such entities. The term includes a digital currency, a digital medium of exchange, or a digital monetary unit of account issued by the United States Federal Reserve System, a federal agency, or the World Bank which is processed or validated directly by such entities.
(2) GOVERNMENTAL AGENCY. Any board, commission, department, or other agency of the state or any political subdivision of the state.
(b) No governmental agency shall accept a payment using central bank digital currency.
(c) No governmental agency shall participate in any test of central bank digital currency by any Federal Reserve branch.

Legislative History

(Act 2023-561, §1.)