By Jp Cortez
Sound Money Defense League
via Money Metals News Service, Eagle, Idaho
Monday, February 9, 2026
The South Dakota legislature today rejected a vendor-inspired "transactional gold" bill that would harm South Dakotans, free enterprise, and the gold industry by entangling the state in a sweeping, government-run gold scheme.
The South Dakota Senate State Affairs Committee voted 7-1 to kill Senate Bill 112, making South Dakota the latest state to reject such proposals across the country. The Mount Rushmore State joins Michigan, Wyoming, New Jersey, Oklahoma, Iowa, West Virginia, Idaho, and Mississippi, which just last week rejected three similar measures that sought to entangle the state.
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More specifically, SB 112 would have created an elaborate public-private partnership whereby the state enters the market and either establishes a state bullion depository or puts the state's credibility behind one bullion depository over all competing firms while designing and overseeing a state-run precious metals purchase, storage, and electronic payment system. ...
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