LOU LEG Central Bank Digital Currency

On May 23, LOU LEG passed bill on central bank digital currency.

  • LOU LEG passed HB 357, defining central bank digital currency (CBDC), exception.
  • Bill makes amendments to LOU LEG 10-9-102, Definitions and index of definitions.
  • Bill Provisions
  • Provides an exception to a deposit account and defines central bank digital currency.
  • Adds provision that a deposit account does not include a central bank digital currency.
  • Legislative History
  • On Feb. 29, 2024, bill introduced in House; on Apr. 2, 2024, bill passed in the House.
  • On Apr. 2, 2024, bill introduced in Senate; on May 21, 2024, bill passed in the Senate.
  • On May 22, 2024, bill enrolled; on May 23, 2024, bill delivered to the governor.
  • Effectiveness
  • If approved, bill becomes effective on Aug. 1, 2024.
  • Jun. 2024 LOU LEG Governor Approval
  • On Jun. 3, 2024, LOU LEG reported governor signed bill into law, assigned Act 424.

Regulators LOU LEG
Entity Types Bank; CNSM
Reference Act 424, 6/3/2024; Bill, HB357, 5/23/2024; Citation: LOU LEG 10-9-102;
Functions Cyber; Financial; Product Administration; Product Design; Technology
Countries United States of America
Products Banking; Cryptocurrency; Deposits
Regions Am
Rule Type Final
Rule Date 5/23/2024
Effective Date 8/1/2024
Rule Id 213131
Linked to N/A
Reg. Last Update 6/3/2024
Report Section US Banking

Last substantive update on 06/08/2024