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Task force or study body None found
No digital assets, blockchain or crypto task force, commission or study committee found. We searched: Web searches for South Dakota blockchain / cryptocurrency / digital assets task force, study committee, interim committee, working group, council or commission (legislature, treasurer, Division of Banking, governor). Results surfaced only bills and news items, no standing or ad hoc body. This item had not received a full follow-up search at the time of review.
No task force found. Absence is not proven.
Bitcoin or digital asset reserve law Reported
HB 1202 (2025) would have allowed investment of up to 10% of state funds in bitcoin; the House Commerce and Energy Committee deferred it to the 41st legislative day on Feb. 24, 2025 (effectively killed it). HB 1155 (2026, Rep. Logan Manhart) would have let the State Investment Council allocate up to 10% of eligible funds to bitcoin; the same committee voted 10-3 on Feb. 6, 2026 to defer it to the 41st day, and the session ended March 30, 2026 without enactment. Outcomes come from secondary sources (CryptoSlate, Cointelegraph, bitcoinlaws.io, The Block); the legislature's own bill pages did not render for us.
Sources: bitcoinlaws.io - SD HB1202 (secondary), Cointelegraph - HB 1202 deferred (secondary), The Block - HB 1155 introduced, Jan. 28, 2026 (secondary), CryptoSlate - HB 1155 profile (secondary)
Licensing Confirmed
The Division of Banking licenses money transmitters under SDCL ch. 51A-17 via NMLS; virtual currency kiosk operators must hold that money transmitter license, and SB 98 (2026) states that virtual currency transactions are treated as money transmission. A 2024 money-transmission modernization law (aligned with the Money Transmission Modernization Act) was reported by Orrick and the Division issued a 2024 memo (both seen in search results, not opened).
Sources: SD Division of Banking - Money Transmitters, Division of Banking Memo 20-035 (SB 98, June 1, 2026), Division of Banking memo 20-033, 2024 money transmitter legislation (search result, not opened), Orrick - SD enacts MTMA-aligned law, 2024 (search result, not opened)
Crypto kiosks (ATMs) Confirmed
SB 98 (2026), signed by Gov. Larry Rhoden on March 11, 2026 (per AARP and JD Supra), effective July 1, 2026 (per Division of Banking Memo 20-035). Operators must be licensed money transmitters, file annual and quarterly reports, give receipts and fraud/risk disclosures, refund qualifying fraud victims, observe $1,000 daily and $10,000 monthly limits, offer live customer service 8 a.m.-10 p.m., use blockchain analytics, and verify customer identity. Sources conflict on the fee cap: the Division memo says charges are capped at 25%, while JD Supra says 3%; the primary memo is preferred here and the cap should be checked against the enrolled bill text.
Sources: Division of Banking Memo 20-035, SD Searchlight - bills head to governor, Mar. 3, 2026, AARP South Dakota - governor signs SB 98, JD Supra - SD enacts kiosk licensing framework, Dakota News Now - law takes effect July 1, 2026
Other 2025 to 2026 actions
- 2025-03-13: HB 1196 (2025) amended the unclaimed property act to cover virtual currency: presumed abandoned after 3 years of owner inactivity, holders generally must liquidate within 30 days before reporting, and the Treasurer may decline certain assets. Signed March 13, 2025; effective July 1, 2025 (secondary source: CryptoSlate).
- 2026-03: SB 43 (2026), an Attorney General Marty Jackley package bill, adds cryptocurrency to the property subject to criminal asset forfeiture. Passed the Senate Judiciary Committee 11-0 and the House on consent; it went to the governor in March 2026. Signing was not confirmed in the sources we opened.
Sources: CryptoSlate - SD HB 1196 profile (secondary), SD Searchlight - bills head to governor, Regulatory Oversight (Troutman Pepper Locke) - AG proposal, Jan. 2026
Source notes: SB 43 signing status unverified. Kiosk fee cap conflicts across sources (25% vs 3%). No primary legislature bill pages could be read (sdlegislature.gov pages require a JavaScript browser).
Frequently asked
Does South Dakota have a crypto or blockchain task force?
We did not find one in South Dakota (confidence: None found). A "none found" result is not proof that no body exists, because small study groups are often poorly documented online.
Does South Dakota have a bitcoin or digital asset reserve law?
Our research shows the status as failed (confidence: Reported). HB 1202 (2025) would have allowed investment of up to 10% of state funds in bitcoin; the House Commerce and Energy Committee deferred it to the 41st legislative day on Feb. 24, 2025 (effectively killed it). HB 1155 (2026, Rep. Logan Manhart) would have let the State Investment Council allocate up to 10% of eligible funds to bitcoin; the same committee voted 10-3 on Feb. 6, 2026 to defer it to the 41st day, and the session ended March 30, 2026 without enactment. Outcomes come from secondary sources (CryptoSlate, Cointelegraph, bitcoinlaws.io, The Block); the legislature's own bill pages did not render for us.
Does South Dakota regulate crypto kiosks (ATMs)?
Our research shows law (confidence: Confirmed). SB 98 (2026), signed by Gov. Larry Rhoden on March 11, 2026 (per AARP and JD Supra), effective July 1, 2026 (per Division of Banking Memo 20-035). Operators must be licensed money transmitters, file annual and quarterly reports, give receipts and fraud/risk disclosures, refund qualifying fraud victims, observe $1,000 daily and $10,000 monthly limits, offer live customer service 8 a.m.-10 p.m., use blockchain analytics, and verify customer identity. Sources conflict on the fee cap: the Division memo says charges are capped at 25%, while JD Supra says 3%; the primary memo is preferred here and the cap should be checked against the enrolled bill text.
This page is part of our 50-state crypto legislation and task force tracker. Each entry is labeled Confirmed, Reported, Unclear or None found; see the tracker for how we research it.