Louisiana passes bill to defend Bitcoin rights and ban CBDCs

Louisiana has passed a Bitcoin bill to protect the right to use Bitcoin and curb central bank digital currencies. After receiving approval from both the House of Representatives and the Senate, Bill No. 488 was signed into law by Governor Jeff Landry. The legislation was led by Representative Mark Wright and supported by Senator Jean-Paul Coussan, aimed at ensuring the continued use of Bitcoin while restricting CBDCs. The main provisions of HB 488 - the new law provides several important protections for Bitcoin holders and miners: Self-custody: The law ensures that individuals can safely hold their own digital assets. This provision is crucial for financial security and sovereignty. Freedom to transact: It guarantees the right to use Bitcoin for transactions, allowing individuals and businesses to consume and accept Bitcoin without additional legal barriers. Support for Bitcoin mining: The law supports Bitcoin mining in industrial areas, aiming to promote economic development in Louisiana by attracting businesses and investments.