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United States of America: Implemented Blockchain Basics Act’s prohibition on adoption of central bank digital currencies (HB 488)

Policy overview

Description

Implemented Blockchain Basics Act’s prohibition on adoption of central bank digital currencies (HB 488)

On 1 August 2024, sections of the Blockchain Basics Act (HB 488) come into effect. The Act forbids the use of central bank digital currencies (CBDCs) and establishes regulations for miners and node operators. It also prohibits the state of Louisiana from conducting trials, accepting, or mandating payments using a CBDC. However, the Act does not impose restrictions on other digital currencies.

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
executive
Government Body
central government

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…