South Carolina S 163: Air Medal license plate

Bill Text

2025-2026 Bill 163 Text of Previous Version (Apr. 23, 2026) - South Carolina Legislature Online 

South Carolina General Assembly
126th Session, 2025-2026

Bill 163

Indicates Matter Stricken
Indicates New Matter

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

Committee Report

April 23, 2026

S. 163

Introduced 
by Senators Verdin and Leber 

S. Printed 4/23/26--H.

Read the first time May 6, 2025

________

The committee on House Labor, 
Commerce and Industry

To whom was referred a Bill (S. 163) to 
amend the South Carolina Code of Laws by adding Chapter 47 to Title 34 so as to 
prohibit a governing authority from accepting or requiring payment using 
central, etc., respectfully

Report:

That they have duly and carefully 
considered the same, and recommend that the same do pass:

WILLIAM HERBKERSMAN for 
Committee.

statement of estimated fiscal impact

Explanation of Fiscal Impact

State Expenditure

This bill prohibits any state 
governing authority from accepting or requiring a payment using central bank 
digital currency. The bill also prohibits state governing authorities from 
participating in any test of central bank digital currency by the Board of 
Governors of the Federal Reserve System or branch or agency of the federal 
government. The bill establishes protections for users of digital assets, 
defined by the bill to include cryptocurrencies and non-fungible tokens, to 
purchase legal goods and services that may not be subject to any additional tax 
or assessment on the sole basis of currency medium. The bill defines several 
cryptocurrency and blockchain related terms for use in the chapter. 

Under the bill, an individual may 
not be prohibited from participating in digital asset mining in an area zoned 
for residential use as long as the person engaging in digital asset mining 
complies with all local ordinances. Digital asset mining businesses may not be 
subject to any restrictions that do not generally apply to businesses in the 
area, including a limit on sound decibels generated from business-related 
activities. Digital asset mining businesses are required to operate in a 
manner that does not place any additional stress on the electrical grid, and 
upon request, must provide PSC with a copy of their power purchase agreement 
demonstrating that the business can reduce power consumption during periods of 
electrical grid stress. 

The bill further states that an 
individual or business engaged in digital asset mining, operating a blockchain 
protocol, developing software on a blockchain protocol, or exchanging a digital 
asset for another digital asset without the exchange of legal tender or bank 
deposits is not required to obtain a money transmitter license pursuant to 
Article 2, Chapter 11, Title 35. The bill states that nothing may prevent the 
Attorney General from instituting action alleging fraud against an individual 
or business that claims to be offering digital asset mining as a service. 

Currently, there is no central bank 
digital currency issued by the Federal Reserve or any other federal agency. 
Therefore, this bill will not impact the ability of any governing authority in 
the state to accept or require payments under current practice. 

Board of Financial Institutions. 
BOFI oversees and regulates financial institutions in the state that may hold 
or mine digital assets that would be subject to the requirements of this bill. 
The board indicates that the provisions of the bill will be managed with 
existing resources and staff.

Therefore, this bill will have no 
impact on BOFI. 

State Treasurer's Office. 
The State Treasurer's Office manages state funds and the disbursement of funds 
for governing authorities. STO indicates that the bill's restrictions on the 
use and implementation of central bank digital currency will be managed with 
existing resources and staff. Therefore, this bill will have no impact on STO. 

Public Service Commission. 
PSC may request that a digital asset mining business provide the commission 
with a copy of their power purchase agreement demonstrating that the business 
can reduce power consumption during periods of electrical grid stress. PSC 
indicates that this requirement will be managed with existing resources and 
staff. Therefore, this bill will have no impact on the commission. 

Attorney General's Office. 
The AG oversees money transmitters and issues licenses pursuant to Article 2, 
Chapter 11, Title 35, under which digital asset mining businesses and 
individuals would be exempt. The AG also has jurisdiction over any fraud case 
against an individual or business that claims to be offering digital asset 
mining as a service. Because this bill does not expressly require any action 
by the office, we anticipate that this bill will have no impact on the AG. 
However, we will update this fiscal impact statement if a response to the 
contrary is received. 

Frank A. Rainwater, Ex