In South Dakota, push to veto a bill that would exclude bitcoin and altcoins from the definition of money

The political organization Club for Growth urged South Dakota Governor Kristi Noem to veto a bill that would exclude “bitcoin and altcoins from the definition of money.”

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The state Senate approved the measure on March 1 and sent it to Noem for signing.

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Club for Growth president David McIntosh described the bill HB 1193 bill, where the term “money” is introduced into the state’s Uniform Commercial Code as an authorised medium of exchange, as an “assault” on liberty and national security.

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“Although the bill excludes these decentralized assets, it includes as ‘money’ central-bank digital currencies … such as the Chinese digital yuan. The law should be vetoed,” McIntosh said in the letter.

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Earlier in September 2022, the Biden administration stepped up work on a digital dollar for competition with China.

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In December, American banks announced their intention to test a blockchain platform for CBDC.