South Carolina Governor Signs S.163 Bill Protecting Bitcoin Self-Custody and Banning Discriminatory Crypto Taxes

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South Carolina's governor recently signed legislation S.163 that prohibits state agencies from accepting or mandating central bank digital currency (CBDC) for payments or pilot programs, while explicitly allowing individuals and businesses to transact in digital currencies. The law mandates equal tax treatment for digital asset transactions and traditional fiat transactions, preventing discriminatory taxation on cryptocurrency. Additionally, S.163 establishes regulatory frameworks for digital mining and staking operations, requiring compliance with grid impact standards and eliminating certain licensing requirements for mining participants, while empowering the state attorney general to prosecute fraudulent mining or staking service claims.
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