South Dakota legislation · 101st Legislature (2026)
South Dakota SB98: prevent virtual currency kiosk fraud.
Status: Signed into law, March 12, 2026
What the bill says
An Act ENTITLED An Act to prevent virtual currency kiosk fraud.
From the enrolled text, March 4, 2026:
An Act ENTITLED An Act to prevent virtual currency kiosk fraud. Be it enacted by the Legislature of the State of South Dakota: Section 1. That a NEW SECTION be added to a NEW CHAPTER in title 51A: Terms used in this chapter mean: (1) "Charges," fees charged to a user for a virtual currency transaction, plus the difference between the market price of virtual currency at the time of the transaction and the price charged to the user; (2) "Distributed ledgers," a digital system maintained across multiple computers for recording virtual currency transactions using blockchain technology, as defined in § 53-12-1, or substantially similar technology; (3) "Licensee," a person that: (a) Is licensed pursuant to chapter 51A-17; and (b) Operates a virtual currency kiosk in this state; (4) "User," a person that uses a virtual currency kiosk for a virtual currency transaction; (5) "Virtual currency," a natively electronic asset that confers access, economic, or proprietary powers or rights and is recorded using cryptographically secured distributed ledgers, or substantially similar technology; and (6) "Virtual currency kiosk," an: (a) Application or product that directs a user to remit payment in person, including through a clerk or other intermediary, for the purpose of completing a virtual currency transaction; or (b) Electronic terminal operated by or on behalf of a licensee engaged in …
Sponsors
- Steve Kolbeck (R, SD-002) · primary sponsor
- Mike Weisgram (R, HD-024) · primary sponsor
- Steve Duffy (R, HD-032)
- Eric Emery (D, HD-026)
- Timothy Goodwin (R, HD-030)
- Erin Healy (D, HD-010)
- Mellissa Heermann (R, HD-007)
- Liz Larson (D, SD-010)
- Jim Mehlhaff (R, SD-024)
- Scott Moore (R, HD-023)
- Erik Muckey (D, HD-015)
- Carl Perry (R, 03)
Latest actions
- : Signed by the Governor
- : Delivered to the Governor
- : Signed by the Speaker
- : Signed by the President
- : Do Pass Amended
- : Do Pass
- : Scheduled for hearing
- : First read in House and referred to Commerce and Energy
- : Do Pass Amended
- : Remove from Consent Calendar
Votes
- Do Pass Amended (March 3, 2026): 59 yea, 7 nay, passed
- Do Pass (March 2, 2026): 10 yea, 2 nay, passed
- Do Pass Amended (February 17, 2026): 31 yea, 2 nay, passed
- Do Pass Amended (February 10, 2026): 7 yea, 0 nay, passed
Subjects: Virtual Currency, Licensure, Banks and Banking, Reports
Common questions
- What is SB98?
- SB98 is a bill in the South Dakota Legislature (101st Legislature (2026)): prevent virtual currency kiosk fraud.
- What does SB98 do?
- In its own words: An Act ENTITLED An Act to prevent virtual currency kiosk fraud.
- What is the status of SB98?
- Signed into law as of March 12, 2026. Latest action: Signed by the Governor (March 12, 2026).
- Who sponsored SB98?
- Steve Kolbeck (R, SD-002), with 11 co-sponsors.
- Where is the official record for SB98?
- On the South Dakota Legislature website: https://sdlegislature.gov/Session/Bill/26656
Source: official South Dakota record. Tracked by Delilah, AI for legislation across all 50 states and Congress.