South Dakota’s Governor, Kristi Noem, opposed the ban on using crypto-currencies such as Bitcoin as money. She stated that this would be a “threat to freedom” and requested other states also thinking of voting for this bill to stop it from being accepted. The same bill was also allowing for special digital currencies issued by the Central Bank (CBDCs) to be used.
South Dakota AMV, Governor Noem Uncovers Threatening Government-Controlled Digital Money Bill
On Friday, the Governor of South Dakota, Kristi Noem, said no to a bill called House Bill 1193 which would control people using digital money. In her letter, she said that HB 1193 would stop people from using cryptocurrencies like Bitcoin and other digital assets – but at the same time it would allow central bank digital currencies (CBDCs) as money.
The governor recently spoke with Fox News, saying that the bill has over 110 pages full of instructions. It revises the Uniform Commercial Code (UCC) and is backed by our banks and financial institutions.
When reading through the bill, we noticed a changed definition of currency. It basically made way for government-controlled digital money and also blocked any other type of cryptocurrency like Bitcoin or digital currency that existed before it. The governor said this was really threatening to our freedoms, making South Dakota the first state to expose this bill and uncover what is truly inside it.
Governor Noem Counsels Against Making It Easier for the Government to Take Away Our Financial Freedom
Governor Noem said something important: “20 states are getting the same law and it seems like a way for the federal government to control our money and, by doing that, they can try to control us. This appears to be part of an update of the UCC guidelines but it should concern everyone.”
The governor has advised that if the government creates its own form of digital currency (CBDC), then it means that the government will have control over how you use your money. This would make it impossible for us to make our own decisions about our finances – and so we wouldn’t have freedom anymore. She shared this concern in a tweet that she posted on Saturday.
More than 20 other states are trying to approve a law that could make it difficult to use cryptocurrency, and make it easier for the federal government to set up a digital currency system. But these bills must not be passed.
The Governor said in her statement that the proposed bill (HB 1193) would make it harder to use cryptocurrencies, and that this would put citizens of South Dakota at a disadvantage when compared to other states.
Noem expressed that by how this new proposed version of money is defined, it makes it conceivable for the government to make its own kind of digital currency – known as CBDC. The governor also stated that a digital currency like this has not been created yet in our current moment.
We should not create rules and laws for something that doesn’t exist yet. It’s also important to remember that South Dakota should not make it easier for the government to do stuff without permission from people.
What do you think about Governor Noem’s plans to try and stop people from using cryptocurrencies as money and instead introducing digital currencies created by the government? Let us know in the comments below!