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SC H3442

Bill

Status

Introduced

1/14/2025

Primary Sponsor

Bill Taylor

Click for details

Origin

House of Representatives

126th General Assembly

AI Summary

  • Amends South Carolina's Uniform Commercial Code definition of "money" in Section 36-1-201 to explicitly exclude central bank digital currency (CBDC)

  • Defines "central bank digital currency" as a digital medium of exchange issued by the U.S. Federal Reserve System, a federal agency, foreign government, or foreign central bank that is made directly available to consumers and processed directly by those entities

  • Prevents CBDC from being recognized as legal "money" under South Carolina state law for purposes of commercial transactions

  • Takes effect immediately upon approval by the Governor

Legislative Description

Central Bank Digital Currency ban

Last Action

Member(s) request name added as sponsor: B.Newton, Pedalino

1/28/2025

Committee Referrals

Judiciary12/5/2024

Full Bill Text

No bill text available