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1  Bitcoin / Legal / Re: Kristi Noem excludes crypto currency from definition of money. on: June 11, 2023, 12:04:17 PM
Yes, South Dakota Governor Kristi Noem vetoed a bill on March 11, 2023 that would have amended the state's Uniform Commercial Code to exclude cryptocurrencies and other digital assets from the definition of money. In her veto letter, Noem said that the bill would "open the door to the risk that the federal government could easily adopt a Central Bank Digital Currency, which then may become the only viable digital currency." She also argued that the bill would make it more difficult for businesses to use cryptocurrencies.

Noem's veto was praised by some cryptocurrency advocates, who argued that it would protect the state's cryptocurrency industry from government overreach. However, others criticized the veto, arguing that it would stifle innovation in the cryptocurrency industry.

The bill's sponsor, Representative Aaron Matson, said that he was disappointed by Noem's veto, but that he would continue to work to bring clarity to the state's laws on cryptocurrencies.

The veto of House Bill 1193 is the latest example of the growing debate over the role of cryptocurrencies in the US financial system. The Federal Reserve has said that it is considering issuing its own central bank digital currency, and some lawmakers have called for stricter regulations on cryptocurrencies. However, other lawmakers have argued that cryptocurrencies should be allowed to operate freely in the market.

The debate over cryptocurrencies is likely to continue in the coming years. As cryptocurrencies become more popular, it is likely that the US government will take steps to regulate them. However, it is also possible that cryptocurrencies will become so widely used that they will be difficult for the government to regulate.
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