Reserve

Louisiana Governor Jeff Landry has signed HB 488, a landmark bill prohibiting central bank digital currencies (CBDCs) and protecting the right to self-custody and mine crypto. The law, effective August 1, bars governing authorities from accepting or requiring CBDCs for payments and prevents participation in CBDC tests by federal bodies, according to <a href="https://coinmarketcal.com/ru/news/louisiana-signs-bill-to-ban-cbdcs-protect-right-to-self-custody-and-mine-crypto">Coinmarketcal</a>. 
The bill guarantees individuals and businesses the right to accept cryptocurrency for legal goods and services and to self-custody crypto in non-custodial and <a href="https://ultramining.com/hardware/">hardware</a> wallets. It sets forth regulations for home and commercial crypto mining, ensuring compliance with local ordinances and zoning laws. Node operation and staking on blockchain protocols are also protected under this legislation.&nbsp; 
Louisiana’s attorney general has the authority to act against fraud and other violations in mining and staking activities. The bill also mandates that prohibited foreign parties divest from digital mining businesses by August 2025, with penalties for non-compliance reaching up to $1 million or 25% of the foreign interest in the business.&nbsp; 
This move aligns Louisiana with other states like Oklahoma and Montana, which have enacted similar protections for crypto activities. At the federal level, the <a href="https://ultramining.com/news/en/major-bitcoin-mining-pool-foundry-usa-to-introduce-fee-structure/">US</a> House has passed a bill to prevent the Federal Reserve from creating and issuing a CBDC without Congressional approval, now pending Senate consideration.&nbsp;

Louisiana Bans CBDCs and Ensures Rights for Crypto Mining and Self-Custody

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