South Carolina payments and fintech bills

What it would do: Requires financial institutions to verify that individuals are U.S. citizens before wiring or remitting funds to foreign countries, and either prohibits the transfer or charges a one thousand dollar fee remitted to the state general fund if the individual is not a U.S. citizen.

What it would do: Prohibits credit card payment processors from charging swipe fees on the sales tax portion of retail transactions and requires point-of-sale systems to automatically exclude sales tax from fee calculations.

What it would do: Approves Regulation Document Number 5363 of the Attorney General relating to Money Services, which repeals certain regulations previously adopted under the South Carolina Anti-Money Laundering Act that are no longer necessary due to the amended South Carolina Money Services Act.

What it would do: Requires any establishment holding a retail license to do business in South Carolina to accept cash payments for transactions.

What it would do: Prohibits hotels, inns, boardinghouses, motor courts, and motels from charging transactional fees when guests pay with cash or check.

What it would do: Requires owners and operators of virtual currency kiosks to obtain money transmitter licenses and display specific risk disclosures on kiosk screens, including fraud warnings. Establishes daily transaction limits of $2,000 for new customers and $10,500 for existing customers, and requires refunds for certain fraudulent first-time transactions to foreign wallets.

What it would do: Approves the regulations of the State Board of Financial Institutions relating to Electronic Fund Transfers, designated as Regulation Document Number 5290, pursuant to Article 1, Chapter 23, Title 1 of the South Carolina Code of Laws.

What it would do: Requires any establishment holding a retail license in South Carolina that accepts in-person payments to accept cash payments for transactions up to two thousand dollars, excluding automated services and online transactions.