State of Louisiana prohibits use of CBDC

In the United States, the state of Louisiana banned the use of CBDC and established strict rules for crypto mining that will go into effect on August 1

On August 1, new rules for crypto mining will come into effect in Louisiana, United States, an entity where the use of central bank currencies or CBDCs was prohibited.

The state of Louisiana announced new regulations according to which “the adoption and use of any CBDC is prohibited, even if issued by the FED or any federal agency. It also prohibits residents and businesses from participating in tests with these assets.”

In this sense, residents must comply with the regulations for cryptomining, an activity that is prohibited for foreigners, with a period of one year to close their operations. If they do not comply with the provisions, they will be subject to “legal action by the local prosecutor’s office with penalties of up to USD 1 million or 25% of the value of the operators’ assets.”

The new law that will govern in Louisiana is part of the Blockchain Basic Law at the state level and allows trading in cryptocurrencies. “People and companies are free to use digital assets to pay for legal goods and services, as well as to use specialized hardware or software for their custody.”

“As for crypto mining activities, the law allows residents to conduct these types of activities in their homes as long as they do not violate noise regulations,” but they must be US citizens.

Companies that are in the crypto mining market must stick to industrial zones under local ordinances. Authorization includes operating nodes or participating in staking systems.


Source: diariobitcoin

(Reference image source: Unsplash+, in collaboration with Planet Volumes)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

You might also like