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United States of America: Introduced Blockchain Basics Act (HB 488)

Policy overview

Description

Introduced Blockchain Basics Act (HB 488)

On 1 March 2024, the Blockchain Basics Act was introduced in the House of Representatives in Louisiana. The Act proposes to outlaw the use of central bank digital currencies (CBDCs) and establish regulations for miners and node operators. It also aims to prevent the state of Louisiana from engaging in trials, accepting, or mandating payments using a CBDC.

Original source

Scope

Policy Area
Authorisation, registration and licensing
Policy Instrument
Operational license requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
subnational
Government Branch
legislature
Government Body
parliament

Complete timeline of this policy change

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2024-03-01
under deliberation

On 1 March 2024, the Blockchain Basics Act was introduced in the House of Representatives in Louisi…

2024-06-03
adopted

On 3 June 2024, the Blockchain Basics Act (HB 488) was adopted by the Louisiana legislature. The Ac…

2024-06-19
adopted

On 19 June 2024, the Blockchain Basics Act (HB 488) was signed into law by the Governor of Louisia…

2024-08-01
in force

On 1 August 2024, sections of the Blockchain Basics Act (HB 488) come into effect. The Act forbids …

2025-08-01
in force

On 1 August 2025, the obligation for foreign-controlled businesses involved in digital asset mining…