PIERRE, S.D.(WNAX)- South Dakota Governor Kristi Noem has vetoed HB1193, the revision of the uniform commercial code. In her letter she said “HB 1193 adopts a definition of ‘money’ to specifically exclude cryptocurrencies like Bitcoin, as well as other digital assets. At the same time, these UCC revisions include Central Bank Digital Currencies as money.”
Representative Mike Stevens of Yankton was the prime sponsor of the revision.
Stevens, during the legislative forum last Saturday, said the UCC has been in effect for a long time.
Stevens says there is no conspiracy involved in the bill.
Legislators will return to Pierre on March 27th to deal with vetoes and any other unfinished business.