{
 "jurisdiction_id": "US-SD",
 "jurisdiction": "United States – South Dakota",
 "url": "https://payments.gi/jurisdictions/united-states-south-dakota/",
 "generator": "render_jid v13.3.0",
 "date_modified": "2026-08-11",
 "schema_version": "world-payments-v1",
 "counts": {
  "modules": 14,
  "sourced_findings": 55,
  "source_register": 113
 },
 "modules": [
  {
   "code": "W1a",
   "name": "Licensing, Authorisation & Market Access",
   "confidence": "Confirmed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-south-dakota/#w1a-licensing-authorisation-market-access",
   "standing_position": "South Dakota licenses money transmitters (incl. virtual-currency transmission) via NMLS under SDCL Ch. 51A-17, restructured in 2024 to align with the CSBS Money Transmission Modernization Act. In March 2026 the legislature extended this licensing perimeter to cover virtual-currency kiosk operators specifically (SB 98, in force 2026-07-01), with 10 kiosk operators / 172 machines already licensed.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "SDCL Chapter 51A-17 (Money Transmission Act); ARSD 20:07:21",
     "source": "https://dlr.sd.gov/banking/money_transmitters/default.aspx",
     "source_url": "https://dlr.sd.gov/banking/money_transmitters/default.aspx",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "NMLS licensing route",
     "source": "https://dlr.sd.gov/banking/money_transmitters/default.aspx",
     "source_url": "https://dlr.sd.gov/banking/trusts/default.aspx",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "SB 58 (2024) - full CSBS Money Transmission Modernization Act adoption",
     "source": "https://buckleyfirm.com/blog/2024-03-29/south-dakota-enacts-new-money-transmission-law-aligning-law-money-transmission-modernization-act",
     "source_url": "https://dlr.sd.gov/banking/money_lenders/licensure_requirements.aspx",
     "source_tier": "2",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "SDCL Chapter 51A-6A (Trust Company charters)",
     "source": "https://dlr.sd.gov/banking/trusts/default.aspx",
     "source_url": "https://dlr.sd.gov/banking/money_lenders/licensure_requirements.aspx",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "SDCL Title 51A (state bank charter)",
     "source": "https://dlr.sd.gov/banking/banks/documents/state_charter_advantages.pdf",
     "source_url": "https://dlr.sd.gov/banking/money_lenders/licensure_requirements.aspx",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "SDCL Title 54, Chapter 4 (Money Lenders)",
     "source": "https://dlr.sd.gov/banking/money_lenders/licensure_requirements.aspx",
     "source_url": "https://dlr.sd.gov/banking/money_lenders/licensure_requirements.aspx",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    }
   ]
  },
  {
   "code": "W1b",
   "name": "Conduct, Safeguarding & Financial Promotions",
   "confidence": "Confirmed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-south-dakota/#w1b-conduct-safeguarding-financial-promotions",
   "standing_position": "Safeguarding for South Dakota money transmitters rests on a tiered surety bond plus a statutory trust/permissible-investments requirement matching outstanding transmission liabilities. Consumer-facing conduct is anchored by the 36% APR rate cap on payday/short-term lending (2016 ballot measure) and a 2024 Division mandate extending BSA/AML compliance-program obligations to non-federally-regulated licensees.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Statutory trust / permissible investments requirement",
     "source": "https://dlr.sd.gov/banking/money_transmitters/licensure_requirements.aspx",
     "source_url": "https://dlr.sd.gov/banking/money_transmitters/licensure_requirements.aspx",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "SB 58 (2024) surety bond scaling",
     "source": "https://buckleyfirm.com/blog/2024-03-29/south-dakota-enacts-new-money-transmission-law-aligning-law-money-transmission-modernization-act",
     "source_url": "https://natlawreview.com/article/south-dakota-lenders-tight-deadline-bsaaml-compliance",
     "source_tier": "2",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "Division of Banking BSA/AML Memorandum (Jan 2024)",
     "source": "https://natlawreview.com/article/south-dakota-lenders-tight-deadline-bsaaml-compliance",
     "source_url": "https://natlawreview.com/article/south-dakota-lenders-tight-deadline-bsaaml-compliance",
     "source_tier": "2",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "Consumer complaint route",
     "source": "https://www.thecreditpeople.com/loans/payday-loan-laws-and-regulations-in-south-dakota-sd",
     "source_url": "https://natlawreview.com/article/south-dakota-lenders-tight-deadline-bsaaml-compliance",
     "source_tier": "3",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "Initiated Measure 21 (2016) / SDCL 54-4-36",
     "source": "https://ballotpedia.org/South_Dakota_Payday_Lending_Initiative,_Initiated_Measure_21_(2016)",
     "source_url": "https://natlawreview.com/article/south-dakota-lenders-tight-deadline-bsaaml-compliance",
     "source_tier": "2",
     "retrieved_at": "2026-07-05"
    }
   ]
  },
  {
   "code": "W2",
   "name": "Stablecoins & Digital Money",
   "confidence": "High",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-south-dakota/#w2-stablecoins-digital-money",
   "standing_position": "South Dakota has no bespoke stablecoin-issuer licensing regime but treats virtual-currency transmission as money transmission requiring SDCL 51A-17 licensure, imposes like-kind reserve requirements on virtual-currency transmitters, and has taken an active anti-CBDC legislative posture (SB58, HB1163, HB1161) while 2026 legislation targets crypto-kiosk fraud and asset forfeiture. A 2026 bill to let the state invest public funds in Bitcoin was introduced but expired.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Division of Banking guidance memo on virtual currency transmission",
     "source": "https://dlr.sd.gov/banking/legal/documents/11_002_virtual_currency_transmission_in_sd.pdf",
     "source_url": "https://dlr.sd.gov/banking/legal/documents/11_002_virtual_currency_transmission_in_sd.pdf",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "SB 47 (2022)",
     "source": "https://www.csbs.org/state-pending-enacted-mtma-legislation",
     "source_url": "https://blog.tenthamendmentcenter.com/2024/03/signed-as-law-south-dakota-takes-another-step-against-central-bank-digital-currency/",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "SB58 / HB1163 / HB1161 (2024)",
     "source": "https://blog.tenthamendmentcenter.com/2024/03/signed-as-law-south-dakota-takes-another-step-against-central-bank-digital-currency/",
     "source_url": "https://blog.tenthamendmentcenter.com/2024/03/signed-as-law-south-dakota-takes-another-step-against-central-bank-digital-currency/",
     "source_tier": "2",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "2026 crypto-kiosk and digital-asset-forfeiture bills (CAUTION: pending gubernatorial signature as of March 2026)",
     "source": "https://southdakotasearchlight.com/2026/03/03/digital-currency-regulation-bills-head-to-south-dakota-governors-desk/",
     "source_url": "https://blog.tenthamendmentcenter.com/2024/03/signed-as-law-south-dakota-takes-another-step-against-central-bank-digital-currency/",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "HB 1155 (2026) - State Bitcoin Investment Bill (status: expired/inactive)",
     "source": "https://cryptoslate.com/crypto-laws/south-dakota-hb-1155-state-bitcoin-investment/",
     "source_url": "https://blog.tenthamendmentcenter.com/2024/03/signed-as-law-south-dakota-takes-another-step-against-central-bank-digital-currency/",
     "source_tier": "3",
     "retrieved_at": "2026-07-05"
    }
   ]
  },
  {
   "code": "W3",
   "name": "Operational Resilience & Critical Infrastructure",
   "confidence": "Confirmed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-south-dakota/#w3-operational-resilience-critical-infrastructure",
   "standing_position": "South Dakota does not operate a bespoke operational-resilience regime; resilience obligations for regulated payments/financial entities flow from the federal GLBA Safeguards Rule referenced on the Division's own regulatory-reference page, from Division supervisory guidance including a Cyber Hygiene Industry Awareness Memo, and from periodic on-site examinations (including of trust companies) assessing management, operations, and compliance.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "FTC Safeguards Rule, 16 CFR 314",
     "source": "https://dlr.sd.gov/banking/money_transmitters/default.aspx",
     "source_url": "https://dlr.sd.gov/banking/money_transmitters/default.aspx",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "Division of Banking Cyber Hygiene Industry Awareness Memo",
     "source": "https://dlr.sd.gov/banking/legal/supervisory_guidance.aspx",
     "source_url": "https://americanfiduciarysolutions.com/the-south-dakota-difference/",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "BSA/AML compliance-program mandate",
     "source": "https://natlawreview.com/article/south-dakota-lenders-tight-deadline-bsaaml-compliance",
     "source_url": "https://americanfiduciarysolutions.com/the-south-dakota-difference/",
     "source_tier": "2",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "SDCL 51A-6A-31 examination cycle",
     "source": "https://americanfiduciarysolutions.com/the-south-dakota-difference/",
     "source_url": "https://americanfiduciarysolutions.com/the-south-dakota-difference/",
     "source_tier": "3",
     "retrieved_at": "2026-07-05"
    }
   ]
  },
  {
   "code": "W4",
   "name": "Scheme & Network Compliance",
   "confidence": "Assessed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-south-dakota/#w4-scheme-network-compliance",
   "standing_position": "South Dakota has no state-level card-scheme, interchange, or surcharging statute; scheme and network compliance in the state operates through federal/network channels layered on top of the state's uncapped usury-law framework, which historically concentrated large national credit-card issuing operations (Citibank, Wells Fargo, First PREMIER Bank/PREMIER Bankcard) in Sioux Falls.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "OCC CRA evaluation - Sioux Falls credit-card bank concentration",
     "source": "https://www.occ.gov/static/cra/craeval/Dec06/16971.pdf",
     "source_url": "https://dlr.sd.gov/banking/money_transmitters/default.aspx",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "Card-issuer network standing",
     "source": "https://siouxfallsdevelopment.com/doing-business/key-industries/financial-services/",
     "source_url": "https://siouxfallsdevelopment.com/doing-business/key-industries/financial-services/",
     "source_tier": "3",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "Federal Safeguards Rule cross-reference",
     "source": "https://dlr.sd.gov/banking/money_transmitters/default.aspx",
     "source_url": "https://siouxfallsdevelopment.com/doing-business/key-industries/financial-services/",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    }
   ]
  },
  {
   "code": "W5",
   "name": "Payment Corridor Dynamics",
   "confidence": "High",
   "moved_this_cycle": true,
   "url": "https://payments.gi/jurisdictions/united-states-south-dakota/#w5-payment-corridor-dynamics",
   "standing_position": "South Dakota's crypto-kiosk transactions are subject to statutory transaction limits, mandatory disclosures and fraud-refund obligations under SB 98, layered on an existing 2022 like-kind reserve requirement for virtual-currency transmitters, SB 43's forfeiture exposure, and a hardened statutory posture against CBDC.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "SDCL 51A-17 money transmission definition",
     "source": "https://dlr.sd.gov/banking/money_transmitters/default.aspx",
     "source_url": "https://dlr.sd.gov/banking/money_transmitters/default.aspx",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "CFPB Remittance Rule, 12 CFR 1005",
     "source": "https://dlr.sd.gov/banking/money_transmitters/default.aspx",
     "source_url": "https://dlr.sd.gov/banking/money_transmitters/default.aspx",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "Multi-state MSB Licensing Agreement Program",
     "source": "https://dlr.sd.gov/banking/money_transmitters/default.aspx",
     "source_url": "https://dlr.sd.gov/banking/money_transmitters/default.aspx",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    }
   ]
  },
  {
   "code": "W6",
   "name": "Industry Structure & Commercial Dynamics",
   "confidence": "High",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-south-dakota/#w6-industry-structure-commercial-dynamics",
   "standing_position": "South Dakota's payments industry structure is dominated by large card-issuing bank operations centers concentrated in Sioux Falls (Citibank, Wells Fargo, First PREMIER Bank/PREMIER Bankcard), a legacy of 1980s usury-law reform, alongside a growing trust-company and digital-asset-custody sector.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Market structure - Sioux Falls credit-card employers",
     "source": "https://www.sdnewswatch.org/giga-fact-brief-sd-credit-card-companies-citi-wells-fargo/",
     "source_url": "https://www.sdnewswatch.org/giga-fact-brief-sd-credit-card-companies-citi-wells-fargo/",
     "source_tier": "2",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "Historical regulatory origin",
     "source": "https://www.marketplace.org/story/2009/03/25/sioux-falls-town-credit-built",
     "source_url": "https://www.sdnewswatch.org/giga-fact-brief-sd-credit-card-companies-citi-wells-fargo/",
     "source_tier": "3",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "OCC CRA evaluation of Sioux Falls card-bank market",
     "source": "https://www.occ.gov/static/cra/craeval/Dec06/16971.pdf",
     "source_url": "https://www.sdnewswatch.org/giga-fact-brief-sd-credit-card-companies-citi-wells-fargo/",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "Citi operations expansion",
     "source": "https://www.citigroup.com/global/news/press-release/2019/citi-opens-state-of-the-art-operations-site-in-sioux-falls",
     "source_url": "https://www.sdnewswatch.org/giga-fact-brief-sd-credit-card-companies-citi-wells-fargo/",
     "source_tier": "2",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "Deposit concentration data",
     "source": "https://www.fool.com/investing/general/2014/03/02/this-south-dakota-city-is-home-to-americas-richest.aspx",
     "source_url": "https://www.sdnewswatch.org/giga-fact-brief-sd-credit-card-companies-citi-wells-fargo/",
     "source_tier": "3",
     "retrieved_at": "2026-07-05"
    }
   ]
  },
  {
   "code": "W7",
   "name": "Legal & Litigation",
   "confidence": "Confirmed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-south-dakota/#w7-legal-litigation",
   "standing_position": "South Dakota's payments-adjacent legal landscape is anchored by the landmark 2018 US Supreme Court decision South Dakota v. Wayfair, which originated from South Dakota legislation and reshaped remote-seller payment/tax-collection obligations nationally, alongside an active Division of Banking enforcement docket covering both traditional and crypto-native payments/financial entities.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "South Dakota v. Wayfair, Inc., 585 U.S. 162 (2018)",
     "source": "https://en.wikipedia.org/wiki/South_Dakota_v._Wayfair,_Inc.",
     "source_url": "https://www.supremecourt.gov/opinions/17pdf/17-494_j4el.pdf",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "OCC enforcement action termination",
     "source": "https://www.occ.treas.gov/news-issuances/news-releases/2025/nr-occ-2025-131.html",
     "source_url": "https://www.occ.treas.gov/news-issuances/news-releases/2025/nr-occ-2025-131.html",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "Division of Banking consent orders",
     "source": "https://dlr.sd.gov/banking/default.aspx",
     "source_url": "https://dlr.sd.gov/banking/default.aspx",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "Multistate mortgage-servicing settlement",
     "source": "https://dlr.sd.gov/banking/default.aspx",
     "source_url": "https://dlr.sd.gov/banking/default.aspx",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    }
   ]
  },
  {
   "code": "W8",
   "name": "Merchant Acquiring & Risk",
   "confidence": "Possible",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-south-dakota/#w8-merchant-acquiring-risk",
   "standing_position": "South Dakota has no state-specific merchant-acquiring statute, high-risk-MCC rule, or chargeback/dispute framework; acquiring activity touching the state is governed by federal/network rules, with Wells Fargo (an entity with major Sioux Falls operations) ranking among the top-5 US merchant acquirers by processing volume nationally.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "TSG 2026 Directory of US Merchant Acquirers",
     "source": "https://www.linkedin.com/posts/pkriaris_who-are-the-top-companies-behind-card-payments-activity-7459877226226827266-stlU",
     "source_url": "https://www.linkedin.com/posts/pkriaris_who-are-the-top-companies-behind-card-payments-activity-7459877226226827266-stlU",
     "source_tier": "3",
     "retrieved_at": "2026-07-05"
    }
   ]
  },
  {
   "code": "W9",
   "name": "Product Innovation & Market Development",
   "confidence": "High",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-south-dakota/#w9-product-innovation-market-development",
   "standing_position": "South Dakota's product-innovation frontier in 2025-2026 centers on digital-asset policy: a twice-introduced (2025, 2026) state Bitcoin public-investment bill that has not passed, a licensed crypto-kiosk sector now facing tighter fraud-incentive regulation, and a digital-asset civil-forfeiture bill, layered on the state's established trust-company custody infrastructure.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "HB 1155 (2026, expired) - State Bitcoin Investment Bill",
     "source": "https://crypto.news/south-dakota-bill-state-investment-bitcoin-2026/",
     "source_url": "https://cryptoslate.com/crypto-laws/south-dakota-hb-1155-state-bitcoin-investment/",
     "source_tier": "3",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "HB 1202 (2025, dead) - predecessor Bitcoin investment bill",
     "source": "https://legiscan.com/SD/text/HB1202/2025",
     "source_url": "https://cryptoslate.com/crypto-laws/south-dakota-hb-1155-state-bitcoin-investment/",
     "source_tier": "2",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "Crypto-kiosk incentive-restructuring bill (2026, CAUTION: pending signature)",
     "source": "https://southdakotasearchlight.com/2026/03/03/digital-currency-regulation-bills-head-to-south-dakota-governors-desk/",
     "source_url": "https://cryptoslate.com/crypto-laws/south-dakota-hb-1155-state-bitcoin-investment/",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "Digital-asset forfeiture bill (2026, CAUTION: pending signature)",
     "source": "https://southdakotasearchlight.com/2026/03/03/digital-currency-regulation-bills-head-to-south-dakota-governors-desk/",
     "source_url": "https://cryptoslate.com/crypto-laws/south-dakota-hb-1155-state-bitcoin-investment/",
     "source_tier": "2",
     "retrieved_at": "2026-07-05"
    }
   ]
  },
  {
   "code": "W10",
   "name": "Consumer Protection & APP Fraud",
   "confidence": "Confirmed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-south-dakota/#w10-consumer-protection-app-fraud",
   "standing_position": "South Dakota consumer protection in payments rests on a voter-approved 36% APR cap on consumer/payday lending (2016), a 2018 security-breach notification statute (SDCL 22-40-19 to -26) with a 60-day disclosure deadline and AG-notification trigger at 250 residents, and growing 2025-2026 attention to crypto-related consumer fraud losses.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Initiated Measure 21 (2016) / SDCL 54-4-36",
     "source": "https://ballotpedia.org/South_Dakota_Payday_Lending_Initiative,_Initiated_Measure_21_(2016)",
     "source_url": "https://ballotpedia.org/South_Dakota_Payday_Lending_Initiative,_Initiated_Measure_21_(2016)",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "Post-enactment consumer-protection impact",
     "source": "https://www.responsiblelending.org/media/new-crl-report-capping-payday-loan-interest-rates-36-game-changer-south-dakota",
     "source_url": "https://www.recordinglaw.com/us-laws/data-privacy-laws/south-dakota-data-privacy-laws/",
     "source_tier": "2",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "SDCL 22-40-19 to 22-40-26 (SB 62, 2018) - Security Breach Notification Law",
     "source": "https://www.recordinglaw.com/us-laws/data-privacy-laws/south-dakota-data-privacy-laws/",
     "source_url": "https://southdakotasearchlight.com/2026/03/03/digital-currency-regulation-bills-head-to-south-dakota-governors-desk/",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "Enforcement/penalty structure",
     "source": "https://www.insideprivacy.com/data-security/south-dakota-breach-notification-law-breaks-new-ground/",
     "source_url": "https://southdakotasearchlight.com/2026/03/03/digital-currency-regulation-bills-head-to-south-dakota-governors-desk/",
     "source_tier": "2",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "AG testimony on crypto-fraud consumer losses",
     "source": "https://southdakotasearchlight.com/2026/03/03/digital-currency-regulation-bills-head-to-south-dakota-governors-desk/",
     "source_url": "https://southdakotasearchlight.com/2026/03/03/digital-currency-regulation-bills-head-to-south-dakota-governors-desk/",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    }
   ]
  },
  {
   "code": "W11",
   "name": "AML/CFT & Financial Crime",
   "confidence": "High",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-south-dakota/#w11-aml-cft-financial-crime",
   "standing_position": "South Dakota's AML/CFT payments-context posture is fed here from public regulatory record pending direct Sentinel.gi feed integration: FinCEN's BSA/AML rules apply to money transmitters, the Division of Banking has extended BSA/AML program obligations to previously-uncovered lenders, and crypto-kiosk CTR/SAR filing data plus a run of consent orders against crypto-native entities evidence active illicit-finance-adjacent supervision.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "sentinel.fincen_bsa_aml - 31 CFR 1022",
     "source": "https://dlr.sd.gov/banking/money_transmitters/default.aspx",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "sentinel.sd_dob_bsa_memo_2024",
     "source": "https://www.consumerfinancemonitor.com/2024/02/12/south-dakota-regulator-requires-bsa-aml-compliance-for-money-lender-licensees-and-non-residential-mortgage-lenders/",
     "source_url": null,
     "source_tier": "2",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "sentinel.crypto_kiosk_ctr_data",
     "source": "https://southdakotasearchlight.com/2026/03/03/digital-currency-regulation-bills-head-to-south-dakota-governors-desk/",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "sentinel.dob_crypto_consent_orders",
     "source": "https://dlr.sd.gov/banking/default.aspx",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W12",
   "name": "Correspondent Banking, Settlement & Access",
   "confidence": "High",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-south-dakota/#w12-correspondent-banking-settlement-access",
   "standing_position": "The OCC's December 2025 termination of a narrow 2024 amendment to Citibank N.A.'s (Sioux Falls, SD-chartered) 2020 consent order leaves the underlying remediation obligations in place; SD's Division of Banking separately maintains an active public register of multistate nonbank/fintech consent orders reflecting coordinated national MSB supervision.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "State bank charter multi-state operation authority",
     "source": "https://dlr.sd.gov/banking/banks/documents/state_charter_advantages.pdf",
     "source_url": "https://dlr.sd.gov/banking/banks/documents/state_charter_advantages.pdf",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "SDCL 51A-6A-11.1 - public trust company situs requirement",
     "source": "https://sdlegislature.gov/api/Statutes/51A-6A-11.1.html",
     "source_url": "https://sdlegislature.gov/api/Statutes/51A-6A-11.1.html",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "National trust/de novo charter wave (context)",
     "source": "https://www.americanbanker.com/news/fintechs-asking-for-and-receiving-bank-charters-in-2026",
     "source_url": "https://www.americanbanker.com/news/fintechs-asking-for-and-receiving-bank-charters-in-2026",
     "source_tier": "2",
     "retrieved_at": "2026-07-05"
    }
   ]
  },
  {
   "code": "W13",
   "name": "Commercial Intelligence & Fintech",
   "confidence": "High",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-south-dakota/#w13-commercial-intelligence-fintech",
   "standing_position": "No South Dakota-headquartered payments fintech M&A or funding-round events were identified within the trailing 12 months; the state's principal trailing-12-month commercial/regulatory events are legislative/regulatory in nature (Bitcoin public-investment bill, crypto-kiosk and forfeiture bills) and an OCC enforcement-action termination for a Sioux Falls-domiciled bank entity.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "commercial_event: regulatory - consent order termination",
     "source": "https://www.occ.treas.gov/news-issuances/news-releases/2025/nr-occ-2025-131.html",
     "source_url": "https://www.occ.treas.gov/news-issuances/news-releases/2025/nr-occ-2025-131.html",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "commercial_event: product/policy - state Bitcoin investment proposal",
     "source": "https://www.theblock.co/post/387341/south-dakota-bitcoin-reserve-bill",
     "source_url": "https://www.theblock.co/post/387341/south-dakota-bitcoin-reserve-bill",
     "source_tier": "2",
     "retrieved_at": "2026-07-05"
    },
    {
     "finding": null,
     "instrument_type": "commercial_event: regulatory - crypto-kiosk/forfeiture legislation",
     "source": "https://southdakotasearchlight.com/2026/03/03/digital-currency-regulation-bills-head-to-south-dakota-governors-desk/",
     "source_url": "https://southdakotasearchlight.com/2026/03/03/digital-currency-regulation-bills-head-to-south-dakota-governors-desk/",
     "source_tier": "1",
     "retrieved_at": "2026-07-05"
    }
   ]
  }
 ]
}