South Dakota payments and fintech laws
What South Dakota has enacted on payments and fintech, what each law requires, and what the bills still moving would do. South Dakota is one of 42 states that enacted a payments and fintech law in the 2025 and 2026 sessions.
- Bills in scope
- 6bills in scope
- Past committee
- 2past committee
- Most recent action
- 12 March 2026most recent action
Payments and fintech laws enacted in South Dakota
2 payments and fintech laws enacted in the South Dakota Legislature in the 2025 and 2026 sessions, newest first. Each links to the legislature's own page.
What it requires: Licensees operating virtual currency kiosks must be licensed under chapter 51A-17, establish daily transaction limits of one thousand dollars and thirty-day limits of ten thousand dollars, provide full refunds to fraud victims within seventy-two hours, charge no more than twenty-five percent per transaction, verify user identity before accepting payment, and employ fraud-detection software.
Virtual currency and crypto kiosks, Payment fraud and scams
- SB 81prohibit the use of a firearms code for transactions involving firearms, accessories, components, and ammunition and to provide a civil penalty therefor.Took effect 1 July 2025
What it requires: Financial institutions may not assign a firearms code to distinguish firearms dealers from other retailers, decline lawful transactions based on firearms codes, limit business with customers based on firearms codes, charge higher fees for firearms transactions, or take actions to suppress lawful firearms commerce.
Interchange and card networks
Payments and fintech in South Dakota, by topic
Card surcharges and payment fees
2 bills. Enacted in 14 states.
Virtual currency and crypto kiosks
1 bill, 1 enacted. Enacted in 34 states.
Interchange and card networks
1 bill, 1 enacted. Enacted in 6 states.
Payment fraud and scams
1 bill, 1 enacted. Enacted in 21 states.
Payments and fintech bills in South Dakota
The bills not yet law, furthest along first, with what each would do.
2Enacted
4Introduced or inactive
6 bills in scope
Introduced or inactive
4
What it would do: Prohibits financial institutions with over $100 billion in annual transactions from discriminating based on religion, First Amendment-protected speech or association, or lawful economic activity, and requires them to provide detailed adverse action statements within 30 days upon request.
What it would do: Recognizes gold and silver specie as legal tender in South Dakota beginning July 1, 2027, for private debts by mutual agreement and state obligations if agreed. Establishes a bullion depository system and electronic payment platform operated by the state treasurer.
What it would do: Requires retail sellers and state/political subdivisions to accept cash for in-person transactions of $100 or less, and prohibits charging higher prices for cash payment. Exempts federally chartered credit unions, financial institutions, security deposit transactions, and airline sales.
What it would do: Requires persons selling goods or services to accept cash payment when the sale occurs in person and the purchaser chooses to pay with cash, with exceptions for financial institutions, security deposits, and airplane sales. Also requires state and political subdivisions to accept cash for fees and charges submitted in person.
Bill titles link to the South Dakota Legislature's own page.
What counts as payments and fintech legislation
In scope: Money transmission and licensing; virtual currency and crypto kiosks; card surcharges and payment fees; interchange and card networks; earned wage access; bNPL and bank partnerships; prepaid, gift cards and P2P; and payment fraud and scams.
Questions
Does South Dakota have a payments and fintech law?
Yes. South Dakota enacted 2 payments and fintech laws in the 2025 and 2026 sessions, among them SB 98 and SB 81. Each is listed on this page with what it requires.
When do South Dakota's payments and fintech laws take effect?
SB 98 on 1 July 2026 and SB 81 on 1 July 2025.
What does South Dakota legislate on most in payments and fintech?
Card surcharges and payment fees (2 bills), Virtual currency and crypto kiosks (1 bill) and Interchange and card networks (1 bill).
Are these summaries reviewed by a lawyer?
No. Which bills count as Payments and fintech bills, and the line on what each law requires or each bill would do, are drafted by software from the bill's own text and not reviewed by an attorney. Every bill links to the legislature's own record: read the text before relying on it. The list covers bills from the 2025 and 2026 sessions.
Other practice areas in South Dakota
- AI in South Dakota6
- Alcohol in South Dakota9
- Cannabis in South Dakota22
- Children's Online Safety in South Dakota7
- Cybersecurity in South Dakota3
- Data center and energy in South Dakota14
- Data Privacy in South Dakota6
- Employment in South Dakota9
- Healthcare in South Dakota43
- Insurance in South Dakota21
- Intellectual Property in South Dakota2
- Packaging and PFAS in South Dakota2
- Rental housing in South Dakota3
- Tobacco and nicotine in South Dakota10
- Transportation in South Dakota9
- All jurisdictions
Payments and fintech legislation in other jurisdictions
51 more currently hold bills in this tracker
- New Jersey66
- Congress61
- New York38
- Texas32
- Michigan28
- Massachusetts27
- Oklahoma24
- Mississippi21
- Florida20
- Illinois18
- Missouri18
- Connecticut17
- Minnesota17
- Maryland16
- California15
- Hawaii13
- West Virginia13
- Arizona12
- Iowa12
- Louisiana12
- Montana12
- Pennsylvania12
- Rhode Island12
- Virginia12
- Indiana11
- Maine11
- Washington11
- Nebraska10
- Tennessee10
- Delaware9
- Kentucky9
- Utah9
- Arkansas8
- Georgia8
- South Carolina8
- Vermont8
- Wisconsin8
- Idaho7
- North Carolina7
- Ohio7
- Alaska6
- Colorado6
- Kansas6
- New Hampshire6
- Alabama5
- Puerto Rico5
- Nevada4
- Wyoming4
- North Dakota3
- New Mexico3
- Oregon3
Know when South Dakota's payments and fintech law changes
An alert when a bill moves, and one report a month on what changed in every state and Congress.