Louisiana has updated its laws to prohibit the use of central bank digital currencies (CBDCs) and regulate miners and node operators. The new legislation, known as the Blockchain Basics Act, will take effect in August 2024. It bars Louisiana from testing or accepting CBDC payments but does not restrict other digital currencies. The state is also imposing strict regulations on foreign-owned digital mining companies, requiring them to divest their interests by August 2024. Penalties for noncompliance can be as high as $1 million or 25% of the foreign party's stake. The law defines node operators as essential for maintaining blockchain integrity but without transaction control. This move mirrors similar actions in states like Florida and North Carolina, reflecting uncertainty around a digital dollar in the US. While some, like Trump, oppose CBDCs due to privacy concerns, others, including the Biden administration, are more open to exploring their potential amidst global CBDC development efforts. Read more AI-generated news on: https://app.chaingpt.org/news