Louisiana the third state in the United States bans CBDC and imposes a oneyear limit on foreign mining companies withdrawal of investments

Louisiana, the United States has enacted a law prohibiting the use of CBDC and establishing rules for miners and node operators. The law will officially take effect in August of this year.

Contents
Toggle
The third state in the United States prohibits CBDC
Miners cannot be funded from abroad
Node operators cannot modify user transactions
The third state in the United States prohibits CBDC
According to Forbes, the bill HB 488 has been amended to prohibit Louisiana from:
Participating in CBDC testing.
Accepting or requiring the use of CBDC for payment.
House Bill 488 was led by Representative Mark Wright and supported by Senator Jean-Paul Coussan. It has been approved by both the House and the Senate, and signed into law by Governor Jeff Landry.

Advertisement – The article continues below
This makes Louisiana the third state in the United States to explicitly ban CBDC, following Florida and North Carolina.
(San Francisco Federal Reserve recruits CBDC architect, Florida Governor, Republican Congressman: CBDC must be banned)
HB 488
Miners cannot be funded from abroad
Although the legislation prohibits CBDC, “other digital currencies” are not included in the scope of this ban.
In addition, Louisiana will also impose strict controls on digital asset mining companies owned by foreign entities, prohibiting foreign entities from acquiring any stake in digital asset mining operations within the state.
Starting from August 1, 2024, foreign-controlled mining companies in Louisiana will have one year to fully divest their interests. Non-compliant companies will face fines of up to $1 million or 25% of foreign ownership.
Louisiana’s amendment also defines node operators, clarifying that while nodes play a crucial role in maintaining the blockchain, they do not have the authority to change or determine the outcome of transactions initiated by users.
The bill states:
A node is a computing device that communicates with other devices or participants on the blockchain to maintain consensus and integrity, produce and verify transaction blocks, and a node shall not exercise discretion over transactions initiated by end users on the blockchain.
Former presidential candidate Trump has also strongly stated that he will never allow the issuance of CBDC, emphasizing that this is a major threat to freedom and democracy.
(Trump: Never allow the Federal Reserve to issue CBDC, the federal government will control your money)
CBDC
Florida
North Carolina
Trump
Louisiana
Additional reading
Bernstein: Election sentiment shifts towards the Republican Party, and cryptocurrencies will become “Trump trades”
Ark founder Cathie Wood expresses support for Trump: Based on economic considerations