2025-2026 Bill 163: Cryptocurrency
South Carolina General Assembly
126th Session, 2025-2026
Download This Bill in Microsoft Word format
S. 163
STATUS INFORMATION
General Bill
Sponsors: Senators Verdin and Leber
Document Path: SR-0190KM25.docx
Introduced in the Senate on January 14, 2025
Introduced in the House on May 6, 2025
Last Amended on April 29, 2025
Passed by the General Assembly on May 6, 2026<br>Summary: Cryptocurrency<br>HISTORY OF LEGISLATIVE ACTIONS
Date<br>Body<br>Action Description with journal page number
1/14/2025<br>Senate<br>Introduced and read first time
1/14/2025<br>Senate<br>Referred to Committee on Banking and Insurance (Senate Journal-page 103)
1/14/2025<br>Senate<br>Introduced and read first time (Senate Journal-page 103)
1/14/2025<br>Senate<br>Referred to Committee on Banking and Insurance
1/27/2025
Scrivener's error corrected
3/4/2025<br>Senate<br>Committee report: Favorable with amendment Banking and Insurance (Senate Journal-page 16)
3/5/2025
Scrivener's error corrected
4/29/2025<br>Senate<br>Committee Amendment Adopted (Senate Journal-page 25)
4/30/2025
Scrivener's error corrected
5/1/2025<br>Senate<br>Read second time (Senate Journal-page 23)
5/1/2025<br>Senate<br>Roll call Ayes-38 Nays-1 (Senate Journal-page 23)
5/5/2025
Scrivener's error corrected
5/6/2025<br>Senate<br>Read third time and sent to House
5/6/2025<br>House<br>Introduced and read first time (House Journal-page 233)
5/6/2025<br>House<br>Referred to Committee on Labor, Commerce and Industry (House Journal-page 233)
4/23/2026<br>House<br>Committee report: Favorable Labor, Commerce and Industry (House Journal-page 3)
4/28/2026<br>House<br>Debate adjourned (House Journal-page 24)
4/29/2026<br>House<br>Debate adjourned (House Journal-page 209)
4/30/2026<br>House<br>Debate adjourned until Tues., 5-5-26 (House Journal-page 85)
5/5/2026<br>House<br>Read second time (House Journal-page 23)
5/5/2026<br>House<br>Roll call Yeas-110 Nays-1 (House Journal-page 23)
5/6/2026<br>House<br>Read third time and enrolled (House Journal-page 32)
5/14/2026
Ratified R 131
5/19/2026
Signed By Governor
View the latest legislative information at the website
VERSIONS OF THIS BILL
1/14/2025
1/27/2025
3/4/2025
3/5/2025
4/29/2025
4/30/2025
5/5/2025
4/23/2026
NOTE: THIS IS A TEMPORARY VERSION. THIS DOCUMENT WILL REMAIN IN THIS VERSION UNTIL FINAL APPROVAL BY THE LEGISLATIVE COUNCIL.
(R131, S163)
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.
Be it enacted by the General Assembly of the State of South Carolina:
Cryptocurrency
SECTION 1. Title 34 of the S.C. Code is amended by adding:
CHAPTER 47
Cryptocurrency
Section 34-47-10. For the purposes of this chapter:
(1) "Blockchain" means data that is:
(a) shared across a peer-to-peer network to create a ledger of verified transactions or information among network participants linked using cryptography to maintain the integrity of the ledger and to execute other functions; and
(b) distributed among network participants in an automated fashion to concurrently update network participants on the state of the ledger and any other functions.
(2) "Blockchain protocol" means any executable software deployed to a blockchain composed of source code that is publicly available and accessible, including a smart contract or any network of smart contracts and is governed by a set of predefined rules that execute autonomously without human intervention, the rules of which can be altered by some predetermined mechanism.
(3) "Central bank digital currency" means a digital currency, a digital medium of exchange, or a digital monetary unit of account issued by the United States Federal Reserve System or a federal agency which is made directly available to institutions or consumers by such entities, or which...