The legislation, HB 1193, was passed by the South Dakota House and Senate last month. The bill would have redefined money as a form of exchange that was"authorized or adopted by a domestic or foreign government." It also stated that money could not be an"Electronic record" that was used for exchange before the government authorized it.Noem quickly moved to veto the legislation, stating that it could hurt South Dakotan business interests.
I VETOED HB 1193. This bill adopts a definition of ‘money’ to specifically exclude crypto like Bitcoin. And it opens the door to the risk that the federal government could adopt a Central Bank Digital Currency.— Kristi Noem March 10, 2023 "By defining 'money' in this proposed way, HB 1193 opens the door to the risk that the federal government could easily adopt a Central Bank Digital Currency, which may become the only viable digital currency," added Noem.
govkristinoem Might be an issue with state powers also. See Article I, Section 10, Clause 1 of the Constitution.
govkristinoem But this paves the way for cbdc to come in.
govkristinoem Good. I don't want a future CBDC government controlled currency that can tell me what I can and can't buy.
govkristinoem Crypto currency is not money.
govkristinoem You lie it included language that changed the definition of money