By Susie Violet Ward · Forbes · 24 June 2024
Louisiana became the second state to pass bitcoin rights into law when Governor Jeff Landry signed House Bill 488, which received bipartisan approval in both chambers. Sponsored by Representative Mark Wright and supported by Senator Jean-Paul Coussan, the law protects the right to self-custody and to use bitcoin for transactions, supports bitcoin mining in industrial areas and prohibits the state government from accepting payments in central bank digital currencies.
Wright says the aim is legal recognition and protection for digital assets and a welcoming environment for investment, and warns that CBDCs could lead to serious limits on freedom. The bill is part of a national effort led by the Satoshi Action Fund, after Oklahoma passed a similar law and Georgia, Mississippi, Kentucky, South Carolina and 11 other states introduced comparable measures. Dennis Porter, the group’s CEO, says the states are creating a blueprint for federal policy.