The legislation, set to take effect on August 1, 2024, marks a significant step in potentially limiting the influence of central bank digital currencies (CBDCs). The Act provides legal protections for home digital asset miners.
The states are creating a blueprint for federal policy. It won't be long until we see the impact in Washington. The success of HB 488 highlights the power of states as 'laboratories of democracy' and demonstrates bitcoin's potential to unify Americans regardless of their political perspectives.
Louisiana joins Oklahoma, Montana, and Arkansas in recently passing Bitcoin-centered legislation. The bill is based on the Satoshi Action Model Policy, as noted by Dennis Porter, co-founder and CEO of the Satoshi Action Fund.
Senator Cynthia Lummis (R-WY) expressed support on social media, emphasizing how states leading in cryptocurrency legislation showcase citizens' rights and the potential impact on federal policies.
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