Central bank digital currency defined and definition of money revised for purposes of the Uniform Commercial Code.

HF 3253 amends Minnesota's Uniform Commercial Code (UCC) by adding a definition for "central bank digital currency" (CBDC) and revising the definition of "money" to explicitly include digital forms issued by a central bank. This technical update ensures the UCC framework accommodates CBDC as a valid form of "money" for commercial transactions, such as payments and contracts. The bill directly affects how financial institutions, businesses, and legal entities interact with digital currency under Minnesota's commercial law, without creating new policies or affecting specific groups beyond standard UCC application.