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South Carolina Bitcoin Reserves and Cryptocurrency Laws

South Carolina Bitcoin Reserves and Cryptocurrency Legislation

South Carolina Bitcoin Reserve Overview

No Official Reserves
Friendly Regulatory Status
Blockchain Innovation Supported

South Carolina Bitcoin Reserves

South Carolina Legislative Breakdown

State BTC Reserves % of Global Holdings Legal Status Last Updated Key Laws and Regulations
South Carolina (SC) No Official Reserves 0% Friendly 2025-02-15
  • H 3749 (2025): Proposes tax incentives for blockchain businesses to attract crypto startups; pending as of May 2025
  • S 0213 (2025): Establishes a blockchain technology study committee to recommend regulations; pending as of May 2025
  • South Carolina Money Transmitter Act (2018): Requires licenses for crypto-fiat transactions, $10,000 fee + $50,000 bond
  • State income tax (0–7%) and federal capital gains tax (15–37%) apply to crypto earnings
  • ~140,000 residents (~2.7% of population) use crypto; $2.8B in transactions (2023–2024, est.)
  • Approximately 12 Bitcoin ATMs, primarily in Columbia and Charleston (2024)
  • No legislation for state-held Bitcoin reserves as of 2025

South Carolina Bitcoin Reserve Status

Current status: NO OFFICIAL RESERVES

South Carolina has not established a state Bitcoin reserve, and no Strategic Bitcoin Reserve (SBR) legislation has been proposed as of May 2025. The state’s regulatory environment is crypto-friendly, with H 3749 (2025) proposing tax incentives for blockchain businesses and S 0213 (2025) establishing a study committee to recommend crypto regulations. The South Carolina Money Transmitter Act imposes moderate licensing requirements, but the state encourages blockchain innovation.

No funds have been allocated for Bitcoin reserves. South Carolina focuses on attracting crypto businesses and studying blockchain potential over state-held reserves.

2/15/2025
PROPOSED
H 3749 was introduced, proposing tax incentives for blockchain businesses to attract crypto startups; the bill is pending.
2/15/2025
PROPOSED
S 0213 was introduced, establishing a blockchain technology study committee to recommend regulations; the bill is pending.
6/1/2018
SIGNED INTO LAW
The South Carolina Money Transmitter Act was enacted, requiring licenses for crypto-fiat transactions with a $10,000 fee and $50,000 bond.
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