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SC H3442
Bill
Status
Introduced
1/14/2025
Primary Sponsor
Bill Taylor
Click for details
AI Summary
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Amends South Carolina's Uniform Commercial Code definition of "money" in Section 36-1-201 to explicitly exclude central bank digital currency (CBDC)
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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
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Prevents CBDC from being recognized as legal "money" under South Carolina state law for purposes of commercial transactions
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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