A bill

 

TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 36-1-201, RELATING TO THE DEFINITION OF "MONEY", SO AS TO PROVIDE THAT MONEY DOES NOT INCLUDE A CENTRAL BANK DIGITAL CURRENCY.

 

Be it enacted by the General Assembly of the State of South Carolina:

 

SECTION 1.  Section 36-1-201(b)(24) of the S.C. Code is amended to read:

 

    (b)(24) "Money" means a medium of exchange currently authorized or adopted by a domestic or foreign government. The term includes a monetary unit of account established by an intergovernmental organization or by agreement between two or more countries. "Money" does not include a central bank digital currency. For purposes of this subitem, "central bank digital currency" means digital medium of exchange, or digital monetary unit of account issued by the United States Federal Reserve System, a federal agency, a foreign government, a foreign central bank, or a foreign reserve system that is made directly available to a consumer by such entities and that is processed or validated directly by such entities.

 

SECTION 2.  This act takes effect upon approval by the Governor.

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