Governor Kristi Noem vetoed House Bill 1193, a bill banning the use of cryptocurrencies, including bitcoin, as money, the U.S. state government announced Friday. “This bill would violate the freedom of digital currencies,” Noem’s veto letter said.
The governor explained in the interview that we saw the part of the bill that changed the definition of money. Essentially what it does is pave the way for a government-led CBDC, and it also prohibits the existence of any other form of cryptocurrency, bitcoin or digital money. It’s clearly a threat to our freedom,” noting that South Dakota was the first state “to really look at that bill and find out what’s in it.”
If the government’s CBDC becomes the only legal digital currency, then the government will control how you spend your money, which will take away all your freedom.