South Carolina S0163 regulates cryptocurrency use, zoning, and taxation, and exempts certain digital asset activities from money transmitter.

South Carolina S0163 amends state law to prohibit governing authorities from accepting central bank digital currency as payment or participating in tests of such currency. It allows individuals and businesses to use digital assets for transactions and self-custody without restriction. The bill exempts digital asset mining businesses from money transmitter licensing and requires these businesses to avoid stressing the electrical grid and to provide power purchase agreements to the Public Service Commission.

South Carolina S0163 regulates cryptocurrency use, zoning, and taxation, and exempts certain digital asset activities from money transmitter.

South Carolina S0163 amends state law to prohibit governing authorities from accepting central bank digital currency as payment or participating in tests of such currency. It allows individuals and businesses to use digital assets for transactions and self-custody without restriction. The bill exempts digital asset mining businesses from money transmitter licensing and requires these businesses to avoid stressing the electrical grid and to provide power purchase agreements to the Public Service Commission.