South Dakota Gov's Veto of Cryptocurrency Regulations Upheld

South Dakota’s House has failed to override Gov. Kristi Noem’s recent veto of a bill that would have created government regulations for the use of cryptocurrency in the state

South Dakota's House failed Monday to override Gov. Kristi Noem's recent veto of a bill that would have created government regulations for the use of cryptocurrency in the state. 

The bill had passed smoothly throughout the legislature, and Noem's veto of last week was upheld on a 37-30 vote.

Proponents had argued the bill would have centralized different cryptocurrency systems through one government oversight commission, boosting transparency. But opponents saw the proposed regulations as a tool for potential government surveillance and overreach, saying they wanted more time to see how such legislation fares in other states.