- Louisiana has just passed a bill to protect fundamental Bitcoin rights.
- The epoch-making legislation garnered an impressive unanimous vote of 103-0.
- Once signed into law, the bill will guarantee everyone in the state the right to purchase, mine, and hold Bitcoin.
The US state of Louisiana has passed a bill to protect fundamental Bitcoin rights. The groundbreaking bill, spearheaded by Louisiana House of Representatives member Mark Wright and supported by the Pelican Institute, seeks to offer Louisianians the rights to buy, mine, and self-custody Bitcoin – and will make the state one of the most Bitcoin-friendly states in the US once approved.
Louisiana Bitcoin Rights Bill Passes With a Unanimous 103-0 Vote
The state of Louisiana’s Fundamental Bitcoin Rights Bill received a Unanimous vote of 103-0. In essence, no single member of the state House of Representatives objected to the proposed bill.
In the US legislative system, a bill requires the vote of at least two-thirds of the members of the House to be passed. The absence of opposition in this case hints at Louisiana’s eagerness to spearhead the US Bitcoin revolution.
Over the last few years, the Pelican State has been setting the legal framework to fully integrate cryptocurrency into its jurisdiction. In 2022, the state’s former governor John Bel Edwards signed a bill to permit financial institutions and trust companies to store crypto for customers.
This latest bill on Bitcoin Rights, championed by State Representative Mark Wright, was introduced to the house in early March this year. Rep. Wright has been at the forefront of pushing for legislation to establish and adequately regulate the crypto industry in the state.
In 2020, he also championed a bill to regulate and license virtual currency businesses which was later enacted in June 2023. For this latest bill for Bitcoin rights, Wright has enjoyed the support of non-profits like the Satoshi Act Fund and New Orleans-based Pelican Institute.
The Bill Guarantees Bitcoin Purchase, Custody, and Mining for all Louisianians
The bill to protect fundamental Bitcoin rights will give Louisianans the guaranteed right to purchase Bitcoin, the freedom to mine it, and the “right to self-custody of your digital assets” as per Dennis Porter of the Satoshi Act Fund.
Porter is the CEO of Satoshi Act Fund – a Bitcoin advocacy non-profit that works with lawmakers and regulators to create policies that favor Bitcoin adoption so all Americans can benefit from the technology. His non-profit also supported Oklahoma’s bill to protect Bitcoin rights which was also a success with an 81-1 vote in the House of Reps.
“This legislation represents an opportunity for Louisiana to shine as a beacon of digital liberty and creativity, establishing a strong example for other states to emulate,” wrote Porter on X.
“However, success is not guaranteed,” he added. The bill is set to advance into the Senate hearing stage and would only be signed into law if it gains the vote of at least two-thirds of the Senate. Porter has called for community involvement “whether through advocacy or financial support” in this bill which he believes will create history for both Louisiana and the entire Bitcoin community.