UNDATED – South Dakota Governor Kristi Noem last week vetoed the UCC revision bill, saying “Limiting the freedom to use cryptocurrency would put South Dakota citizens at a business disadvantage.”
South Dakota Bankers Association President Karl Adam says the Governor is wrong.
Adam says the UCC sets rules for businesses and banks across the country.
Adam says only the federal government could move toward a “Central Bank Digital Currency”
The bill passed both Houses with a two thirds majority.
The legislature returns to Pierre on the 27th to debate vetoes and other last minute business.