This is due to the appearance of bills introducing the Uniform Commercial Code (UCC). These bills would standardize state laws and regulations for transacting business. Theoretically, the UCC would make it increasingly easier for companies to transact business across state lines as it would make it easier for states to harmonize laws regulating businesses. (Related: Coming economic collapse will be used to close banks and introduce central bank digital currencies.)
The UCC was introduced by a group known as the Uniform Law Commission, a Chicago-based non-profit organization that dedicates itself to drafting laws that, if passed by states, would harmonize regulations across state lines.
Last year, the ULC recommended that states overhaul their UCC supposedly to introduce a new article that will deal with digital assets such as digital currencies.
At face value, the amendments seek to solve the ways digital currencies differ from the traditional U.S. dollar, including governing how digital currencies can be controlled and transferred. But it also makes it harder to complete transactions with digital currencies if these assets come from insecure creditors, making it virtually impossible for any digital asset other than one backed by the Federal Reserve to be used in transactions.
As Attorney Thomas Renz pointed out on an episode of his program, "Another Renz Rant," these amendments "are really nothing but a pretense for a central bank digital currency."
Of the 23 states that have introduced bills that would implement the UCC in their jurisdictions, 13 are led by Republicans, who either have a government trifecta in these states or have solid control over the state legislatures.
The 13 Republican-leaning states in question are Arizona, Arkansas, Indiana, Kentucky, Missouri, Montana, Nebraska, New Hampshire, North Dakota, Oklahoma, Tennessee, Texas and West Virginia.
"They're trying to sneak it [UCC] in through these Republican states," noted Renz. "It's critical to them that they get Texas, Oklahoma, Missouri, Tennessee – these are deeply red states, where if the people know about this, there is zero chance [of it passing]."
"What they're doing is, they're getting the House leadership or the Senate leadership in any given state and say, 'Hey, we need to update the UCC. Can you guys sponsor this bill?' and some happy Republican says, 'Sure, I'll sponsor it' and they put it up there and they have no idea what it is," said Renz. "And it just sails through, because why would you oppose some housekeeping updates that make the UCC more efficient?"
Ten other states where Democrats have control over the legislature have introduced legislation to legalize the UCC. They are California, Colorado, Hawaii, Maine, Massachusetts, Nevada, New Mexico, Rhode Island and Washington. The District of Columbia is also amending its UCC.
One state in particular, South Dakota, has defeated efforts to amend the UCC. Gov. Kristi Noem recently vetoed the amending of the UCC, rightly claiming that its passage would be a precursor "for the federal government to control our currency and thus control people."
Learn more about digital currencies and the coming of CBDCs at CryptoCult.news.
Watch this episode of "Another Renz Rant" as Attorney Thomas Renz discusses in detail the states attempting to amend their UCCs and thereby pave the way for the coming CBDC.