The law “HB 488” aims to accelerate the democratization of bitcoin, in particular by supporting mining, and by guaranteeing the right to hold bitcoin.
Bitcoin rights are now protected in Louisiana. The US state passed a pro-Bitcoin bill on June 19, 2024, aimed at protecting access to the cryptocurrency and limiting central bank digital currencies.
This law “House Bill 488” includes several protections for bitcoin holders and miners:
- The right to hold bitcoin: The law ensures that individuals have the right to safely hold their digital assets.
- Freedom of transaction: It guarantees spending and accepting bitcoin without legal barriers by individuals and businesses.
- Support for bitcoin mining: to enable it in industrial zones in order to stimulate the economy by attracting businesses and investments to Louisiana.
- Ban on central bank digital currency: The goal is to prevent the Louisiana government from accepting payments in central bank digital currency, in order to preserve privacy and oppose government-controlled digital currencies.
This new legislation has two specific goals: to accelerate the bitcoin mining industry in Louisiana by providing legal clarity and stability to industry players and to directly integrate bitcoin into the state’s economy.
Louisiana’s move to protect access to and use of bitcoin is part of a national trend. Sixteen other states have passed similar bills to protect bitcoin rights, including Georgia, Mississippi, Kentucky, South Carolina, and Oklahoma.
Source: https://www.bfmtv.com/crypto/bitcoin/l-etat-de-louisiane-adopte-une-loi-pour-proteger-l-acces-et-l-utilisation-du-bitcoin_AV-202407020682.html
