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South Carolina Bans CBDCs, Protects Crypto Self-Custody Rights in New Bill 163

GateNews

Regulation & Policy

2026-05-20 13:12:24

BTC1.26%

South Carolina Governor Henry McMaster signed Senate Bill 163 into law in a major pro-crypto legislative move. The legislation bans state agencies from accepting central bank digital currencies (CBDCs), guarantees residents the legal right to self-custody digital assets through hardware and self-hosted wallets, and prevents authorities from imposing higher taxes on crypto transactions compared to US dollar payments. The law also protects Bitcoin mining operations by limiting local governments' ability to impose mining-specific restrictions and requires proper notice procedures before zoning changes. Additionally, certain crypto activities including node operation, mining, and blockchain software development are now exempt from money transmitter licensing requirements.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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