South Carolina Enacts Bitcoin-Friendly Law, Bans CBDC Use by State Entities
Bitcoin Magazine South Carolina Enacts Bitcoin-Friendly Law, Bans CBDC Use by State Entities South Carolina has enacted a new law aimed at establishing a clear and supportive framework for cryptocurrency use, marking one of the most comprehensive state-level efforts to date. Governor Henry McMaster signed Senate Bill 163 into law on May 19 after it passed th...
Key takeaways
- 1South Carolina Governor signed Senate Bill 163 on May 19 with overwhelming bipartisan support: 38-1 Senate, 110-1 House vote.
- 2Law guarantees right to use bitcoin in commerce, hold self-custodied wallets, and bars state agencies from accepting CBDCs.
- 3Crypto mining operations exempted from money transmitter licensing; local governments cannot impose differential restrictions on mining businesses.
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Why it matters
This comprehensive state-level framework strengthens crypto adoption rights for Indian investors holding digital assets abroad and signals growing U.S. regulatory clarity favoring decentralized finance over CBDCs, influencing global crypto sentiment and India's own policy debates.
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