Louisiana bans CBDCs, sets rules for crypto miners
Share link:In this post: Louisiana bans central bank digital currencies (CBDCs) and sets new rules for crypto miners and node operators, effective August. The Blockchain Basics Act prohibits state participation in CBDC tests but allows other digital currencies and home digital asset mining. The Act restricts foreign entities from owning digital asset mining businesses and grants enforcement powers to the attorney general.Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no
Louisiana has made a big move by changing its laws to ban central bank digital currencies (CBDCs) and create rules for crypto miners and node operators. These changes are part of the Blockchain Basics Act and will start in August.
The new rules stop the state from using or testing CBDCs, but other digital currencies are still allowed. The Act clearly states, “A governing authority shall not participate in any test of central bank digital currency by the Board of Governor.”
The Act prohibits any governing authority in Louisiana from accepting or requiring payment using a CBDC. They also can’t participate in any CBDC tests by the Federal Reserve or federal agencies.
However, individuals and businesses are free to use digital assets to pay for legal goods and services, and they can self-custody digital assets using self-hosted or hardware wallets.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Indian Supreme Court’s YouTube Channel Hacked to Promote Crypto Scam
Judge Approves Terraform Labs Liquidation, Payouts Expected for Investors
Why BlackRock Is Eyeing Bitcoin as a Hedge Against Dollar Volatility
Unveiling the Elite: 5 Titans Reshaping the Quantum Computing Landscape