South Korea · Henry McMaster · US Senate · Bitcoin Magazine
South Carolina Enacts Bitcoin-Friendly Law, Bans CBDC Apply by State Entities
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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.
Key facts
- Governor Henry McMaster signed Senate Bill 163 into law on May 19 after it passed the legislature with strong bipartisan support, clearing the Senate in a 38–1 vote and the House in a 110–1 vote
- Kentucky passed a similar measure in 2025 that protected self-custody rights and limited local restrictions on mining
- Another key element of the South Carolina law is its stance on central bank digital currencies
- It also prohibits participation in any testing program tied to a Federal Reserve-issued digital currency
Summary
Governor Henry McMaster signed Senate Bill 163 into law on May 19 after it passed the legislature with strong bipartisan support, clearing the Senate in a 38–1 vote and the House in a 110–1 vote. At the core of the legislation is a provision that affirms the right of individuals and businesses to use digital assets like bitcoin in commerce. It also guarantees the right to hold assets in self-hosted or hardware wallets, reinforcing the principle of self-custody. The bill further prevents South Carolina and local governments from imposing additional taxes or fees on transactions that involve digital assets when those assets are used as a method of payment.