Louisiana Passes Historic Law to Protect Bitcoin, Ban CBDCs

Bitcoin, the leading cryptocurrency in the financial sector, is set to gain more recognition as Louisiana enacts a groundbreaking law safeguarding BTC access while banning Central Bank Digital Currencies (CBDCs).

New Bill Ensures Bitcoin Access in Louisiana

Dennis Porter, CEO and co-founder of the Satoshi Action Fund, announced via X (formerly Twitter) that House Bill 488, which upholds residents’ rights to own and use Bitcoin, has been passed. This positions Louisiana as a defender of financial and personal freedom.

The Louisiana Legislature’s adoption of this law contrasts with federal trends towards more cryptocurrency regulation and underscores the state’s commitment to fostering a favorable environment for digital assets.

Sponsored by Representative Mark Wright and Senator Jean-Paul Coussan, the bill legalizes Bitcoin transactions without requiring additional legislation. It ensures residents can safely store and use their assets, enhancing financial autonomy and flexibility.

Moreover, the law prohibits the issuance or use of CBDCs within the state due to concerns about financial freedom, privacy, and political control. This stance supports a less regulated and more transparent financial system, promoting decentralized assets like Bitcoin.

While many states and federal agencies consider implementing CBDCs, laws like Louisiana’s may hinder such efforts, favoring a better financial landscape.

Broader Adoption of Pro-Bitcoin Laws

Louisiana joins other states like Oklahoma, Montana, and Arkansas in adopting pro-Bitcoin legislation this year.

Last month, Oklahoma, under Governor Kevin Stitt, passed a similar bill effective from November 1, 2024. Supported by Senator Coleman and Representative Samuel Brian Hill, it safeguards Bitcoin holders' rights, including self-custody, spending, running nodes, and mining BTC. It also prohibits extra taxes on BTC payments and removes the need for a money transmitter license for miners and digital asset validators.

According to Dennis Porter, Oklahoma’s act will protect these rights, ensuring a favorable environment for Bitcoin and other digital assets.