DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part of the
legislative instrument. The keyword, one-liner, abstract, and digest do not constitute part of the law
or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 488 Engrossed 2024 Regular Session Wright
Abstract: Prohibits a governing authority from accepting or requiring central bank digital currency
and from participating in any test of central bank digital currency by any branch or agency
of the federal government.
Proposed law (R.S.6:1411) establishes the "Blockchain Basics Act".
Proposed law (R.S. 6:1412) defines "blockchain", "blockchain protocol", "central bank digital
currency", "consumer price index", "digital asset", "digital asset mining", digital asset mining
business", "governing authority", "hardware wallet", "home digital asset mining", "node",
"nonfungible token", "self-hosted wallet", "staking", and "staking as a service".
Proposed law (R.S. 6:1413) prohibits a governing authority from accepting or requiring a payment
using central bank digital currency.
Proposed law (R.S. 6:1413) prohibits a governing authority from requiring participation in any test
of a central bank digital currency by the federal government.
Proposed law (R.S. 6:1414) provides that no governing authority shall prohibit, restrict, or impair
an individual's ability to use digital assets to purchase goods and services.
Proposed law (R.S. 6:1415) provides for the establishment of digital asset mining businesses in the
states.
Proposed law (R.S. 6:1415) prohibits certain limitations on governing authority zoning restrictions.
Proposed law (R.S. 6:1416) exempts certain individuals engaged in home digital asset mining or
node operating from licensure requirements.
Proposed law (R.S. 6:1416) provides that individuals shall not be considered as offering a security
or investment contract when engaged in home digital asset mining or node operating.
(Adds R.S. 6:1411-1416)
Summary of Amendments Adopted by House
The Committee Amendments Proposed by House Committee on Commerce to the original bill: 1. Make technical changes.