South Carolina has enacted legislation banning state agencies from accepting central bank digital currencies while shielding cryptocurrency users and miners from certain regulations.
The law, known as S. Bill 163, was signed by the governor on Tuesday. It prohibits state agencies from accepting CBDCs and exempts Bitcoin miners from money transmitter licensing requirements. Protections also extend to crypto self-custody rights for users and developers.
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The US Senate Banking Committee voted 15 to 9 on May 14 to advance the Digital Asset Market Clarity Act. The bill now heads to the full Senate floor for further consideration.
State leaders and consumer advocates in South Carolina have highlighted a surge in cryptocurrency scams, particularly those exploiting crypto ATMs. Officials gathered at the State House to detail how these schemes operate and urged greater public awareness. Legislation is under consideration to enhance protections around these machines.
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A bill aimed at regulating cryptocurrency kiosks to combat fraud has progressed through the Wyoming Legislature. House Bill 75, sponsored by Rep. Ken Clouston, passed the House and advanced in the Senate with an amendment for immediate effect. The measure addresses scams that have led to significant financial losses in the state.
Governor Mike Braun signed House Bill 1042 into law last week, requiring Indiana's public defined contribution retirement plans to offer cryptocurrency investments via self-directed brokerage accounts by July 1, 2027. The legislation, targeting plans like Hoosier START, also prohibits most state agencies from restricting digital asset payments or mining, marking a pro-crypto push amid national trends.
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Lawmakers in the US Congress introduced a new bill on Thursday aimed at shielding crypto software developers from criminal prosecution. The legislation focuses on decentralized finance (DeFi) and raises questions about the status of a broader crypto market structure bill. This development comes amid ongoing debates over cryptocurrency regulation.