South Carolina Governor signs pro-crypto, anti-CBDC bill into law
The Block
South Carolina Governor Henry McMaster has signed legislation protecting crypto self-custody, mining rights, and prohibiting state-level usage of central bank digital currencies.Summary
South Carolina has enacted S. 163, a new law that establishes a crypto-friendly regulatory framework by protecting the right of residents and businesses to accept digital assets and utilize self-hosted wallets. The legislation exempts cryptocurrencies used for payments from additional state or local taxes and prevents local governments from imposing discriminatory restrictions on crypto mining operations. Furthermore, the law explicitly prohibits state agencies from accepting or participating in any testing of central bank digital currencies (CBDC) issued by the Federal Reserve, while also clarifying licensing exemptions for various blockchain-related activities.
(Source：The Block)