Louisiana Embraces Crypto With New Pro-Crypto Bill As It Bans CBDCs 

The
State
of
Louisiana
has
formulated
pro-crypto
legislation
seeking
to
ban
central
bank
digital
currencies
(CBDCs)
while
supporting
Bitcoin
mining.

This
new
legislation,
dubbed
the

Blockchain
Basics
Act,
will
be
enacted
in
August
2024.
It
offers
clear
definitions
of
node
operators
while
supporting
Bitcoin
mining
activities.

MASSIVE
BREAKING:
Bill
to
defend
‘#Bitcoin
Rights’
and
ban
CBDCs
passes
into
law.

????Satoshi
Action
Passes
4th
law
to
defend

#Bitcoin
Rights
in
the
USA.????

Louisiana
joins
Oklahoma,
Montana,
&
Arkansas
in
setting
pro-#Bitcoin
policy
blue
print
for
the
nation.
????????

pic.twitter.com/8NGaMtcW1U

—
Dennis
Porter
(@Dennis_Porter_)

June
24,
2024

The
act
further
protects
the
right
to
self-custody,
ensuring
individuals
can
hold
digital
assets.
It
also
seeks
to
ensure
that
individuals
and
businesses
can
accept
and
spend
Bitcoin
legally.

Representative
Mark
Wright,
who
sponsored
the
legislation,
noted
that
it
will
“pave
the
way
in
Louisiana
for
the
changes
and
economic
opportunities
we
will
see
from
blockchain
technology
and
digital
assets.”

Louisiana
Bans
CBDCs

This
amendment
also
includes
a
provision
banning
CBDCs
in
the
state.
It
prohibits
the
state
government
from
engaging
in
CBDC
testing
or
accepting
payments
using
a
CBDC.

However,
it
does
not
impose
a
ban
on
other
digital
currencies.
According
to
Wright,
the
goal
was
to
ensure
digital
assets
were
protected
and
legally
recognized.

Louisiana’s
ban
on
CBDCs
follows
similar
actions
by
states
like
Florida
and
North
Carolina.
CBDCs
have
also
become
a
crucial
topic
in
the
ongoing
US
Presidential
elections,
with
former
US
President
Donald
Trump

saying
a
digital
dollar
was
a
“dangerous
threat
to
freedom.”

Also
Read: