South Dakota governor Kristi Noem has vetoed House Bill 1193. The bill changes the definition of money to exclude cryptocurrencies like Bitcoin and includes support of a central bank digital currencies (CBDC).
In a March 10 tweet, Noem claimed the bill “opens the door to the risk that the federal government could adopt a central bank digital currency.”
She added that South Dakota will always stand for Economic Freedom.
Governor Says Bill Puts Citizens at a Disadvantage
In a letter to South Dakota House Speaker Hugh Bartels, Noem wrote that excluding crypto assets like Bitcoin limits the freedom of the state’s citizens. She added that the bill put businesses in the state at a disadvantage.
The governor further said including CBDCs “opens the door to a potential future overreach by the federal government.”
Noem also added,
“At this moment in time, such a government-backed electronic currency has not been created. It would be imprudent to create regulations governing something that does not yet exist.”
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