South Carolina Governor Signs Law Protecting Bitcoin Miners
South Carolina Governor Henry McMaster has signed Senate Bill 163, creating one of the most favorable legal environments for cryptocurrencies in the state. The document prohibits state agencies from adopting central bank digital currencies (CBDCs) and protects the rights of crypto users and miners. This is reported by Cointelegraph.com reports .
Under the new law, any state agency or political subdivision is prohibited from participating in Fed-managed digital currency trials or accepting payments in the form of CBDCs. The document also guarantees the right to store digital assets in personal wallets and limits the imposition of higher tax rates on crypto transactions compared to USD payments.
Bitcoin miners operating in industrial zones have also received specific protections. Local authorities cannot impose stricter noise standards or special restrictions on mining facilities compared to other industrial sites. Changes to zoning for mining activities can only be made after proper notification and public discussion.
The law exempts a range of activities, including mining, node operations, blockchain software development, and crypto-to-crypto trading, from money transmitter licensing requirements. Additionally, "mining-as-a-service" and "staking-as-a-service" providers have been excluded from securities classifications.
South Carolina has joined the ranks of crypto-friendly states. Previously, states such as Kentucky, Oklahoma, Florida, and Mississippi have also passed similar bills that protect Bitcoin rights and shield miners from discriminatory local regulations.
