Louisiana has updated its legislation to ban the use of central bank digital currencies (CBDCs) and establish rules for miners and node operators. The revised law, known as the Blockchain Basics Act, will take effect in August 2024. It prohibits Louisiana from participating in CBDC tests or accepting payments using CBDCs. The law also imposes strict controls on foreign-owned digital asset mining companies, prohibiting them from holding any stake in Louisiana-based mining operations. Non-compliance could result in penalties of up to $1 million or 25% of the foreign party’s stake in the mining operation.