Is South Dakota crypto friendly? There is currently no cryptocurrency-related legislation in place, or pending, in South Dakota. The state’s money transmission law does not mention cryptocurrency or blockchain, nor define rules for their use.
What states allow cryptocurrency?
|HB 2204 Passed House 2/23/22
Is cryptocurrency illegal in some states? The bottom line is that a U.S. state is unlikely to attempt to ban the possession of cryptocurrency. But it may regulate the sale of cryptocurrency for cash. In other words, it may regulate centralized exchanges, and that’s exactly what the U.S. government and many state governments do.
Is trading crypto legal in USA? The sale of cryptocurrency is generally only regulated if the sale (i) constitutes the sale of a security under state or Federal law, or (ii) is considered money transmission under state law or conduct otherwise making the person a money services business (“MSB”) under Federal law.