Noem vetoes state bill that would exclude Bitcoin from being considered money
SOuth Dakota Gov. Kristi Noem Republican legislation that would have made cryptocurrency money was rejected by the veto. This measure could have had a negative impact on the country. Cryptocurrency Economy in the state
The legislation, HB1193, was approved by both the Senate and House of Representatives in South Dakota last month. The bill would have defined money as an exchangeable form. “authorized or adopted by a domestic or foreign government.” It also said that money could never be used. “Electronic record” It was used to exchange money before the government approved it.
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Noem quickly moved for veto and stated that the legislation could be harmful. South Dakota Interests of business
“By expressly excluding cryptocurrencies as money, it would become more difficult to use cryptocurrency,” Noem wrote in her veto note. “By needlessly limiting this freedom, HB 1193 would put South Dakota citizens at a business disadvantage.”
I VETOED HB1193. This bill adopts a definition of ‘money’ to specifically exclude crypto like Bitcoin. It also opens up to the possibility that the federal government might adopt a Central Bank Digital Currency.
South Dakota will always stand up for Economic Freedom. pic.twitter.com/yqN2mPPaLj
— Kristi Noem (@KristiNoem) March 10, 2023
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