Cryptocurrency

Summary

This South Carolina bill prohibits state and local governing authorities from accepting, requiring, or testing central bank digital currency, while permitting individuals and businesses to use digital currency for transactions. The bill establishes that digital assets cannot receive disparate tax or zoning treatment compared to traditional currency, requires digital mining operations to avoid placing additional stress on electrical grids and to provide information to the Public Service Commission, and exempts digital mining and staking service providers from certain licensing requirements and securities regulations. The bill also authorizes the Attorney General to prosecute fraudulent claims about digital asset mining or staking services.