South Carolina Enacts Bitcoin-Friendly Law, Bans CBDC Use by State Entities
Bitcoin Magazine
South Carolina has passed legislation protecting self-custody and cryptocurrency usage while prohibiting state entities from adopting central bank digital currencies.Summary
South Carolina has enacted Senate Bill 163, a comprehensive law that supports cryptocurrency adoption by protecting the rights of individuals and businesses to use digital assets and utilize self-hosted wallets. The legislation prohibits the state and local governments from imposing extra taxes on digital asset payments and ensures regulatory parity for mining operations. Additionally, the law explicitly bans state entities from accepting central bank digital currencies (CBDC) or participating in federal CBDC testing programs, citing concerns over financial privacy and federal overreach.
(Source：Bitcoin Magazine)