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WuSaidBlockchainW

South Carolina Governor Henry McMaster signed Senate Bill No. 163 into law on Tuesday.


The bill bans the state from using any Central Bank Digital Currency (CBDC) and prohibits state government involvement in CBDC testing;
at the same time, it allows individuals and businesses to accept digital assets for the purchase of legitimate goods or services,
and to store digital assets using self-custody wallets or hardware wallets.
The bill also protects digital asset mining operations that meet industrial land, noise, and power grid requirements,
and stipulates that miners, node operators, and blockchain software developers do not need money transfer licenses. (Decrypt)
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NightAuditBuddy
· 4h ago
CBDC bans and self-custody protections are grouped together, sending a strong political signal: what we want is decentralization, not central bank control.
View OriginalReply0
0xLateComer
· 10h ago
Other states are still watching, but South Carolina is directly legislating, with a clear intention to attract people and money.
View OriginalReply0
ExitLiquidityIntern
· 11h ago
The state government cannot participate in CBDC testing; does this directly undermine the Federal Reserve's authority?
View OriginalReply0
Lime-ColoredStop-LossLine
· 11h ago
Miners don't need to obtain a currency transfer license, which saves a significant amount of compliance costs.
View OriginalReply0
ApeWithNotes
· 11h ago
From testing to legislation, South Carolina has set an example for the entire U.S., now let's see if Texas will follow.
View OriginalReply0
Orange-FlavoredColdWallet
· 11h ago
The grid's requirement for this detail is interesting; probably because mining farms have scared people with power outages before.
View OriginalReply0
AuroraStone
· 11h ago
Blockchain developers are also exempt; writing a smart contract without worrying about being classified as money transfer.
View OriginalReply0
SeaSaltMarketMakingNotes
· 11h ago
Node operators are also exempted; running a full node finally no longer has to worry about being sued.
View OriginalReply0
YieldGoblin
· 11h ago
Industrial land + noise + power grid requirements, the mining threshold hasn't actually decreased, it's just that the compliance path has become clearer.
View OriginalReply0
CollateralCora
· 11h ago
Self-custody wallets finally no longer have to worry about regulatory scrutiny; hardware wallet enthusiasts are ecstatic.
View OriginalReply0
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