The U.S. state of Louisiana has updated its legislation to ban the use of central bank digital currencies and establish rules for digital asset miners and node operators.
The U.S. state of Louisiana has amended its legislation to ban the use of central bank digital currencies (CBDCs) and set rules for miners and node operators. The revised law will become effective in August 2024.
The amendments, dubbed the Blockchain Basics Act, prohibit the state of Louisiana from participating in tests and accepting or requiring payments using a CBDC. However, other digital currencies are not prohibited by the legislation. “A governing authority shall not participate in any test of central bank digital currency by the Board of Governor,” reads the act.
Louisiana is also enforcing tight controls over foreign-owned digital asset mining companies. The state’s legislation prohibits foreign parties from acquiring or maintaining any stake in digital asset mining operations within Louisiana.
