South Carolina Senate Passes Bill to Ban CBDCs

In a landmark move for cryptocurrency legislation, the South Carolina Senate has passed Bill S.163 by a 38-1 vote. The bill sets out to prohibit the use of central bank digital currencies (CBDCs) by state authorities, while simultaneously safeguarding crypto transactions, mining, and wallet usage. S.163 amends the state code to block any requirement for payment in CBDCs and bars participation in any CBDC pilot programs. It also affirms that digital assets cannot face discriminatory tax or zoning treatment and ensures that mining operations are not unfairly targeted or overburdened by regulatory demands. Crucially, the bill allows crypto miners and stakers to operate without needing specific licenses and classifies their activities as non-securities—shielding them from unnecessary oversight. It also empowers the state attorney general to prosecute fraud in the crypto space. The bill now awaits review by a House committee following the legislative recess. If signed into law, it would position South Carolina as one of the most crypto-friendly states in the U.S. Reporter at Coindoo Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets. Related stories Next article !function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod?n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';n.queue=[];t=b.createElement(e);t.async=!0;t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window,document,'script','https://connect.facebook.net/en_US/fbevents.js');fbq('init','1188189499475368');fbq('track','PageView'); Source: https://coindoo.com/south-carolina-senate-passes-bill-to-ban-cbdcs/