Louisiana has enacted the 'Blockchain Basics Act' (HB 488), a landmark law aimed at protecting Bitcoin rights while banning the use of Central Bank Digital Currencies (CBDCs). Signed by Governor Jeff Landry, the legislation ensures residents can self-custody digital assets, engage in Bitcoin transactions, and conduct crypto mining within specified zones. The law, which takes effect on August 1, 2024, also prohibits state authorities from participating in CBDC tests and mandates divestment by foreign-owned digital asset mining businesses by August 2025. Proponents like Representative Mark Wright and Senator Jean-Paul Coussan emphasize the law's role in fostering a favorable environment for cryptocurrency innovation and financial autonomy. The bill has received support from various political figures, including pro-crypto Senator Cynthia Lummis, and may influence federal policy as states act as 'laboratories of democracy.'