The Bitcoin bill passed by Louisiana aims to protect the right to use Bitcoin and restrict central bank digital currencies (CBDCs). Here are the details and key points about the bill:
Background of the bill: As the price of Bitcoin has risen sharply to over $68,000, Louisiana has become the 11th state to formally propose a bill aimed at protecting the basic rights of Bitcoin. The bill was initiated by Louisiana Congressman Mark Wright and supported by Senator Jean-Paul Coussan. Purpose of the bill: Protect the right to use Bitcoin: The bill ensures that individuals and businesses can freely use Bitcoin for transactions without additional legal barriers. Restrict Central Bank Digital Currency (CBDC): Unlike decentralized cryptocurrencies such as Bitcoin, CBDCs are supervised and operated by centralized entities. By restricting CBDCs, the bill maintains the status and rights of decentralized cryptocurrencies such as Bitcoin. Main provisions: Right to self-custody: The law ensures that individuals can safely hold their own digital assets, which is essential for financial security and sovereignty. Freedom of transaction: The bill guarantees the right to use Bitcoin for transactions, allowing individuals and businesses to consume and accept Bitcoin without additional legal barriers. Support for Bitcoin Mining: This law supports Bitcoin mining in industrial areas and aims to promote economic development in Louisiana by attracting businesses and investments. Impact of the bill: By passing this bill, Louisiana not only protects the rights of Bitcoin users, but also creates an environment conducive to Bitcoin and other digital assets, further promoting Bitcoin innovation and growth. The bill also reflects Louisiana's positive attitude towards the field of digital currency and its emphasis on protecting the rights of investors.
In short, the Bitcoin bill passed by Louisiana is a landmark legislation that protects the right to use Bitcoin, restricts central bank digital currencies, and provides strong support for the development of Bitcoin and other digital assets. #BTC