Act 700 of 2024, the Blockchain Basics Act, was signed June 19, 2024, and took effect Aug. 1, 2024. It enacted La. R.S. 49:1501 through 1507.
What it does
- Bars governing authorities from accepting, requiring or testing a central bank digital currency.
- Protects buying goods and services with digital assets and self-custody in a self-hosted wallet.
- Allows digital asset mining in homes and industrial zones, subject to existing rules.
- Protects running nodes and staking.
- Bars prohibited foreign parties from owning mining businesses, with a divestment deadline.
- Extended the Virtual Currency Businesses Act sunset to July 1, 2027 (later repealed by Act 923 of 2026).