Washington, D.C. — Club for Growth President David McIntosh wrote a letter to South Dakota Governor Kristi Noem urging her to veto HB 1193, which would exclude Bitcoin and other digital assets from being defined as a form of currency. Additionally, while the bill excludes decentralized assets, the legislation would label other government controlled Central Bank Digital Currencies, like the Chinese Digital Yuan, as “money”.
Stephanie Murray of The Block published an exclusive report on the letter.
“Bitcoin and other digital assets, as well as blockchain technology, represent some of the most transformational technology since the internet for the U.S. economy, our society, and our fundamental liberties,” said Club for Growth President David McIntosh. “These technologies carry the very real potential to grow our economy by trillions of dollars while also promoting individual freedoms. We should be looking for ways to promote these technological advancements, not restricting access to their benefits. We can’t beat the Chinese by becoming more like them.”
Click here to read the full letter from Club for Growth President David McIntosh.
Click here to read South Dakota House Bill 1193.