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Arkansas state Senate approved a bill Monday allowing gold and silver to be stored in a state depository, and to be used to back electronic transactions.
Arkansas may become the first state to officially accept gold and silver as a form of electronic state currency, according to Just The News. The Senate passed HB 1918 in a 33-0 vote, with one member voting present and another being excused. The bill will now move to the desk of Governor Sarah Huckabee Sanders, and she is expected to sign it into law.
Similar laws are being considered in Texas, Oklahoma, and Kansas, giving all state residents the potential option to back their digital money with physical means. (MORE POLLS: Did You Go to Church in March?)
“Congratulations to [Mindy McAlindon] and [Jim Dotson] for the success of HB 1918 now headed to Governor Sanders … desk. Arkansas will be 1st to offer transactional gold and silver …” wrote Economic War Room host Kevin Freeman on X. “This is monumental! Allows citizens to use gold and silver as money with modern technology using a debit card or check. But when not used the money is stored safely as gold or silver, protecting against inflation. Personal. Optional.”
Read the full bill text here:
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