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South CarolinaS 0163126th General Assembly (2025-2026)Senate

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.

Sponsored By: Daniel B. "Danny" Verdin III (Republican)

Signed by Governor

Summary

Cryptocurrency

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Bill Overview

Analyzed Economic Effects

5 provisions identified: 4 benefits, 0 costs, 1 mixed.

Crypto payments allowed and taxed equally

Beginning May 19, 2026, you and your business may accept digital assets to buy or sell lawful goods and services. You may use self‑hosted or hardware wallets for custody. State and local governments cannot add extra taxes or fees just because you paid with a digital asset. The same taxes still apply as if you used U.S. dollars.

Lighter rules for blockchain builders

Starting May 19, 2026, running blockchain nodes, mining digital assets, building software on a blockchain, and swapping one digital asset for another do not require a state money transmitter license. The state does not treat mining‑as‑a‑service or staking‑as‑a‑service as securities. You are free to operate a node to join a blockchain network.

Fraud crackdown on fake crypto services

Beginning May 19, 2026, the Attorney General can sue anyone who lies about offering mining‑as‑a‑service or staking‑as‑a‑service. This protects buyers from fraud in these crypto services.

No government use of CBDC

Starting May 19, 2026, South Carolina governments cannot accept or require central bank digital currency (CBDC). They also cannot join any CBDC tests run by the Federal Reserve or other federal agencies. Current payment options with government stay the same for residents and businesses.

New rules for crypto mining sites

From May 19, 2026, local governments in industrial zones cannot single out digital asset mining businesses with special zoning or noise rules. They must use the same area‑wide standards and follow notice and comment rules; miners can appeal changes in court. Mining businesses that draw over 1 megawatt must not add stress to the power grid and must be able to cut use during grid strain. The Public Service Commission can request a copy of the power purchase agreement to confirm this.

Sponsors & Cosponsors

Sponsor

  • Daniel B. "Danny" Verdin III

    Republican • Senate

Cosponsors

  • Matthew W. "Matt" Leber

    Republican • Senate

Roll Call Votes

All Roll Calls

Yes: 148 • No: 2

House vote • 5/5/2026

(Cryptocurrency)Passage of Bill

Yes: 110 • No: 1

Senate vote • 5/1/2025

(Cryptocurrency)2nd Reading

Yes: 38 • No: 1

Actions Timeline

  1. Effective date 05/19/26

    6/5/2026legislature

  2. Act No. 208

    6/2/2026legislature

  3. Signed By Governor

    5/19/2026Governor

  4. Ratified R 131

    5/14/2026legislature

  5. Read third time and enrolled

    5/6/2026House

  6. Roll call Yeas-110 Nays-1

    5/5/2026House

  7. Read second time

    5/5/2026House

  8. Debate adjourned until Tues., 5-5-26

    4/30/2026House

  9. Debate adjourned

    4/29/2026House

  10. Debate adjourned

    4/28/2026House

  11. Committee report: Favorable Labor, Commerce and Industry

    4/23/2026House

  12. Referred to Committee on Labor, Commerce and Industry

    5/6/2025House

  13. Introduced and read first time

    5/6/2025House

  14. Read third time and sent to House

    5/6/2025Senate

  15. Scrivener's error corrected

    5/5/2025legislature

  16. Roll call Ayes-38 Nays-1

    5/1/2025Senate

  17. Read second time

    5/1/2025Senate

  18. Scrivener's error corrected

    4/30/2025legislature

  19. Committee Amendment Adopted

    4/29/2025Senate

  20. Scrivener's error corrected

    3/5/2025legislature

  21. Committee report: Favorable with amendment Banking and Insurance

    3/4/2025Senate

  22. Scrivener's error corrected

    1/27/2025legislature

  23. Referred to Committee on Banking and Insurance

    1/14/2025Senate

  24. Introduced and read first time

    1/14/2025Senate

  25. Referred to Committee on Banking and Insurance

    1/14/2025Senate

Bill Text

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