South Carolina H 4592: Veterans Highway in McCormick County

Bill Text

2025-2026 Bill 4592 Text of Previous Version (Dec. 17, 2025) - South Carolina Legislature Online 

South Carolina General Assembly
126th Session, 2025-2026

Bill 4592

Indicates Matter Stricken
Indicates New Matter

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A bill

TO AMEND THE SOUTH CAROLINA CODE OF LAWS 
BY ADDING ARTICLE 13 TO CHAPTER 3, TITLE 34 SO AS TO PROVIDE VENDING OF DIGITAL 
ASSET DEFINITIONS AND TO PROVIDE THAT OWNERS AND OPERATORS OF VIRTUAL CURRENCY 
KIOSKS MUST HAVE MONEY TRANSMITTER LICENSES AND MUST PROVIDE CERTAIN 
DISCLOSURES ON THE SCREENS OF THE VIRTUAL CURRENCY KIOSKS.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION 1. Chapter 3, Title 34 of the 
S.C. Code is amended by adding:

Article 13

Vending of 
Digital Assets

 Section 
34-3-910. As used in this article:

 (1) "Blockchain technology" means a 
mathematically secured, chronological, decentralized, distributed, and digital 
ledger or database that consists of records of transactions that cannot be 
altered retroactively.

 (2)(a) "New customer" means a customer 
transacting at a virtual currency kiosk in this State who has been a customer 
of an owner or operator of a virtual currency kiosk for less than seven days.

 (b) Seven days after a customer first 
transacts with an owner or operator of a virtual currency kiosk, the customer 
is considered an existing customer and is not subject to the new customer 
transaction limit described in Section 34-3-920.

 (3) "Transaction hash" means a unique 
identifier made up of a string of characters that acts as a record and provides 
proof that a transaction was verified and added to blockchain technology.

 (4)(a) "Virtual currency" means a type of 
digital unit that is used as a medium of exchange or a form of digitally stored 
value or that is incorporated into payment system technology.

 (b) "Virtual currency" includes digital 
units that:

 (i) have a centralized repository or 
administrator;

 (ii) are decentralized and have no 
centralized repository or administrator; or

 (iii) may be created or obtained by 
computing or manufacturing effort.

 (c) "Virtual currency" does not include 
digital units that:

 (i) are used solely within online 
gaming platforms, with no market or application outside the gaming platforms;

 (ii) are used exclusively as part of a 
consumer affinity or rewards program and can be applied as payment for 
purchases with the issuer or other designated merchants but cannot be converted 
into or redeemed for fiat currency; or

 (iii) are used as part of a consumer 
affinity or rewards program offered through an institution that is insured by 
the Federal Deposit Insurance Corporation or the National Credit Union Administration.

 (5) "Virtual currency address" means an 
alphanumeric identifier representing a destination for a virtual currency 
transfer that is associated with a virtual currency wallet.

 (6) "Virtual currency kiosk" means an 
electronic terminal acting as a mechanical agent of the owner or operator to 
enable the owner or operator to facilitate the exchange of virtual currency for 
other virtual currency or fiat currency, including by:

 (a) connecting to a separate virtual 
currency exchanger that performs the actual virtual currency transmission; or

 (b) drawing upon the virtual currency 
in the possession of the owner or operator of the electronic terminal.

 (7) "Virtual currency wallet" means a 
software application or other mechanism providing a means for holding, storing, 
and transferring virtual currency.

 Section 
34-3-920. (A)(1) An owner or 
operator of a virtual currency kiosk must obtain a money transmitter license.

 (2) Before entering into a virtual 
currency transaction for, on behalf of, or with a customer, the owner or 
operator of a virtual currency kiosk shall disclose to the customer in clear 
and conspicuous writing in the English language all material risks associated 
with virtual currency. The disclosures must be displayed on the screen of the 
virtual currency kiosk with the ability for a customer to acknowledge receipt 
of the disclosures. The disclosures must include at least the following 
statement:

"WARNING: THIS TECHNOLOGY CAN BE USED TO DEFRAUD YOU. IF YOU HAVE 
BEEN DIRECTED TO THIS MACHINE BY SOMEONE CLAIMING TO BE A GOVERNMENT AGENT, 
BILL COLLECTOR, LAW ENFORCEMENT OFFICER, OR ANYONE YOU DO NOT KNOW PERSONALLY, 
STOP THIS TRANSACTION IMMEDIATELY AND CONTACT YOUR FINANCIAL ADVISOR AND LOCAL 
LAW ENFORCEMENT."

 (3) If the owner or operator of a 
virtual currency kiosk fails to provide the statement described in item (2), 
his license must be revoked.

 (B) When opening an account for a 
customer, the owner or operator of a virtual currency kiosk shall disclose to 
the customer in clear and conspicuous writing in the English language all 
relevant terms and conditions associated with the products, services, and 
act