South Dakota governor vetoes legislation banning cryptocurrency as money, calls on other states to block similar legislation

唐华斑竹 · 2023-03-14T09:56:56.000Z

According to reports on March 14, the South Dakota government in the United States announced on Friday that Governor Kristi Noem vetoed House Bill 1193, a bill that prohibits the use of cryptocurrencies, including Bitcoin, as currency. Noem’s veto letter stated: “This bill will infringe on the freedom of digital currencies.” The governor explained in an interview that the bill is more than 110 pages long and “it was proposed as an update to the UCC (Uniform Commercial Code) guidelines” , supported by all our financial institutions and banks. We saw the part of the bill that changes the definition of currency. Essentially what it does is pave the way for a government-led CBDC, and it also prohibits any other form of existence. Cryptocurrency, Bitcoin or digital currency." The governor stressed that "this is clearly a threat to our freedoms," noting that South Dakota is the first state to "really look at this bill and find out the truth about what's in it." Governor Noem further elaborated: “More than 20 other states have the same UCC language in front of them. I believe this is paving the way for the federal government to control our currency and therefore the people. This should alarm everyone. If the government If CBDC becomes the only legal digital currency, then the government will control how you spend your money, which will take away all your freedom."

On March 14, according to Bitcoin com, the South Dakota government announced on Friday that Governor Kristi Noem vetoed House Bill 1193, a bill that prohibits the use of cryptocurrencies including Bitcoin as currency. Noem said in her veto letter: "The bill will infringe on the freedom of digital currency." The governor explained in an interview that the bill is more than 110 pages long. "It was proposed as an update to the UCC (Uniform Commercial Code) guidelines and has been supported by all our financial institutions and banks. We saw the part of the bill that changes the definition of currency. Essentially, what it does is pave the way for a government-led CBDC, and it also prohibits the existence of any other form of cryptocurrency, Bitcoin or digital currency." The governor emphasized that "this is clearly a threat to our freedom," and pointed out that South Dakota is the first state to "really look at the bill and find out the truth about what's in it." Governor Noem further elaborated: “Over 20 other states have the same UCC language before them. I believe this is paving the way for the federal government to control our currency and therefore the people. This should be a cause for alarm for everyone. If a government CBDC becomes the only legal digital currency, then the government will control how you spend your money, which will take away all of your freedoms.”
#BTC 