{ "jurisdiction_id": "US-SD", "jurisdiction": "United States – South Dakota", "url": "https://cryptoassets.gi/jurisdictions/united-states-south-dakota/", "generator": "render_jid v13.3.0", "date_modified": "2026-08-17", "schema_version": "crypto-v2.0.0", "counts": { "modules": 8, "sourced_findings": 13, "source_register": 10 }, "modules": [ { "code": "crypto_licensing", "name": "Crypto Licensing", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/united-states-south-dakota/#crypto-licensing-crypto-licensing", "standing_position": "South Dakota has no bespoke crypto-asset licensing statute. Virtual-currency exchange and money-transmission-type activity is regulated under the state's general Money Transmission Act (S.D. Codified Laws Title 51A, Chapter 51A-17), administered by the South Dakota Division of Banking and processed through NMLS. Separately, crypto custody-focused firms (e.g., Anchorage, BitGo) have used South Dakota's limited-purpose trust company chartering regime (Title 51A, Chapter 51A-6A) as an alternative, non-MTL pathway to obtain fiduciary/custody authority. No dedicated 'crypto license' distinct from these two general regimes has been confirmed.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "token_classification", "name": "Token Classification", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/united-states-south-dakota/#token-classification-token-classification", "standing_position": "South Dakota has no state-level statute classifying crypto-assets as securities, e-money tokens, or utility tokens; token characterization for securities/commodities purposes is governed by federal SEC/CFTC jurisdiction, not state law. Separately, South Dakota's 2023 HB 1193 amended the state's Uniform Commercial Code definition of 'money' to exclude decentralized virtual currencies (e.g., bitcoin) while including government-issued central bank digital currencies; confirmation of final enactment (gubernatorial signature) was not independently verified in this pass.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "on_chain_activity_regime", "name": "On-Chain Activity Regime", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/united-states-south-dakota/#on-chain-activity-regime-on-chain-activity-regime", "standing_position": "South Dakota has not enacted activity-specific statutes addressing staking, DeFi lending, decentralized exchange operation, mining, node operation, validator activity, or tokenization. These activities are not separately licensed at the state level; only conduct that independently meets the definition of money transmission under Title 51A, Chapter 51A-17 would trigger licensing.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "stablecoin_regime", "name": "Stablecoin Regime", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/united-states-south-dakota/#stablecoin-regime-stablecoin-regime", "standing_position": "South Dakota has no state-specific stablecoin issuance, reserve, or redemption regime. Stablecoin issuers operating in or from South Dakota would fall under the general money-transmission/trust-charter framework at the state level and under the federal GENIUS Act payment-stablecoin framework at the federal level.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "consumer_protection", "name": "Consumer Protection", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/united-states-south-dakota/#consumer-protection-consumer-protection", "standing_position": "South Dakota has no crypto-specific consumer protection statute. General money-transmission law imposes some consumer safeguards applicable by extension to virtual-currency transmitters, including a requirement that funds received for transmission be held in trust for the benefit of the licensee/principal (S.D. Codified Laws §51A-17-33) and theft/loss reporting duties (§51A-17-34). Crypto-specific marketing restrictions, risk-disclosure mandates, or suitability rules have not been identified.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "tax_treatment", "name": "Tax Treatment", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/united-states-south-dakota/#tax-treatment-tax-treatment", "standing_position": "South Dakota levies no state personal income tax, so crypto-related gains and income are not subject to state-level income or capital-gains taxation; federal IRS treatment of virtual currency as property (subject to federal capital gains/income tax rules) governs regardless of state residence.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "cross_border_transfer", "name": "Cross-Border Transfer", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/united-states-south-dakota/#cross-border-transfer-cross-border-transfer", "standing_position": "South Dakota imposes no state-specific restrictions on cross-border crypto transfers. Cross-border transfer obligations for South Dakota-licensed money transmitters and trust companies derive from federal law, including FinCEN's Bank Secrecy Act framework governing money transmitters (including virtual currency exchangers/administrators) and OFAC sanctions requirements.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "aml_cft_regime", "name": "AML/CFT Regime", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/united-states-south-dakota/#aml-cft-regime-aml-cft-regime", "standing_position": "AML/CFT obligations for South Dakota-regulated money transmitters and trust companies are addressed under the fleet's Financial Integrity Monitor (FIM) aml_ctf module rather than researched independently in this crypto baseline, per the module subscription rule. Federal BSA/FinCEN registration, KYC/CDD, and SAR obligations apply to South Dakota-licensed money transmitters and trust companies as a baseline, but detailed claims are out of scope here.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] } ] }