South Carolina Enacts Crypto-Friendly Bill Into Law
South Carolina Governor Henry McMaster has signed Senate Bill 163 into law, creating a crypto-friendly regulatory framework. The law shields digital asset mining businesses from restrictive local zoning changes without proper procedure and protects them from discriminatory regulations compared to other industrial businesses. It prohibits state agencies from adopting or participating in central bank digital currency (CBDC) trials. The legislation safeguards the right to self-custody of crypto assets, bans restrictions on hardware and self-hosted wallets, and prevents excessive taxation on cryptocurrency transactions. It also exempts miners, node operators, developers, and crypto-to-crypto traders from money transmitter licensing, and excludes mining/staking service providers from security classifications. South Carolina follows states like Kentucky in enacting pro-crypto legislation.
TheNewsCrypto05/20 12:14