Bill Sponsor
South Carolina Senate Bill 163
Session 2025-2026
Cryptocurrency
Became Law
Became Law
Signed by Governor on May 19, 2026
Bill Intelligence

The bill prohibits government entities from accepting central bank digital currency or participating in its testing. Individuals and businesses can use digital assets for transactions and are not subject to extra taxes for using digital assets. Digital asset mining businesses must not strain the electrical grid and provide their power purchase agreements upon request. Activities such as digital asset mining, operating a node, or developing blockchain software do not require a money transmitter license. The Attorney General can prosecute fraudulent claims related to digital asset mining. The act is effective upon the governor's approval.

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First Action
Jan 14, 2025
Latest Action
Jun 5, 2026
Origin Chamber
Senate
Type
Bill
Bill Number
163
State
South Carolina
Session
2025-2026
Sponsorship by Party
Summary
AN ACT TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING CHAPTER 47 TO TITLE 34 SO AS TO PROHIBIT A GOVERNING AUTHORITY FROM ACCEPTING OR REQUIRING PAYMENT USING CENTRAL BANK DIGITAL CURRENCY OR PARTICIPATING IN A TEST OF CENTRAL BANK DIGITAL CURRENCY; TO PERMIT INDIVIDUALS OR BUSINESSES USING DIGITAL CURRENCY FOR TRANSACTIONS; TO PROVIDE THAT DIGITAL ASSETS MAY NOT BE SINGLED OUT FOR DISPARATE TAX TREATMENT; TO PROVIDE THAT DIGITAL CURRENCY TRANSACTION MAY BE TAXED IF THE TAXATION IS THE SAME AS IF THE TRANSACTION USED UNITED STATES LEGAL TENDER; TO RESTRICT CERTAIN ACTIVITY FOR DIGITAL CURRENCY OPERATIONS THAT ARE ZONED FOR INDUSTRIAL USE; TO PROVIDE THAT DIGITAL ASSET MINING BUSINESS OPERATIONS SHALL NOT PLACE ANY ADDITIONAL STRESS ON THE ELECTRICAL GRID FOR WHICH THEY ARE CONNECTED AND TO PROVIDE THAT DIGITAL MINING BUSINESSES MUST PROVIDE CERTAIN INFORMATION TO THE PUBLIC SERVICE COMMISSION UPON REQUEST; TO PROVIDE THAT THOSE ENGAGED IN DIGITAL MINING OPERATIONS DO NOT HAVE TO OBTAIN CERTAIN LICENSES AND THAT THOSE WHO PROVIDE CERTAIN SERVICES RELATED TO DIGITAL MINING OR STAKING ARE NOT OFFERING A SECURITY; TO PROVIDE THAT THE ATTORNEY GENERAL CAN PROSECUTE AN INDIVIDUAL OR BUSINESS THAT FRAUDULENTLY CLAIM TO BE OFFERING DIGITAL ASSET MINING AS SERVICE OR STAKING AS A SERVICE; AND TO DEFINE NECESSARY TERMS. - RATIFIED TITLE
06/05/2026
South Carolina Legislature
Effective date 05/19/26
06/02/2026
South Carolina Legislature
Act No. 208
05/19/2026
South Carolina Legislature
Signed By Governor
05/14/2026
South Carolina Legislature
Ratified R 131
05/06/2026
House
Read third time and enrolled
05/05/2026
House
Roll call Yeas-110 Nays-1
05/05/2026
House
Read second time
04/30/2026
House
Debate adjourned until Tues., 5-5-26
04/29/2026
House
Debate adjourned
04/28/2026
House
Debate adjourned
04/23/2026
House
Committee report: Favorable Labor, Commerce and Industry
05/06/2025
House
Referred to Committee on Labor, Commerce and Industry
05/06/2025
House
Introduced and read first time
05/06/2025
Senate
Read third time and sent to House
05/05/2025
South Carolina Legislature
Scrivener's error corrected
05/01/2025
Senate
Roll call Ayes-38 Nays-1
05/01/2025
Senate
Read second time
04/30/2025
South Carolina Legislature
Scrivener's error corrected
04/29/2025
Senate
Committee Amendment Adopted
03/05/2025
South Carolina Legislature
Scrivener's error corrected
03/04/2025
Senate
Committee report: Favorable with amendment Banking and Insurance
01/27/2025
South Carolina Legislature
Scrivener's error corrected
01/14/2025
Senate
Referred to Committee on Banking and Insurance
01/14/2025
Senate
Introduced and read first time
01/14/2025
Senate
Referred to Committee on Banking and Insurance
01/14/2025
Senate
Introduced and read first time
Sources
Record Created
Jan 14, 2025 8:14:26 PM
Record Updated
Jun 6, 2026 3:40:13 AM