Louisiana House passes a bill praising Bitcoin and Satoshi
It is not every day you see a government praising Bitcoin or its anonymous creator. Louisiana has perhaps become the first government to praise Bitcoin as a digital currency. It also recognized creator Satoshi Nakamoto for his work in creating economic prosperity.
Governing body of Louisiana praises Bitcoin
The leading cryptocurrency Bitcoin has received praise from the Louisiana House of Representatives. The legislature passed a bill praising Bitcoin’s pseudonymous inventor, Satoshi Nakamoto after the cryptocurrency hit $1 Trillion in market cap.The bill titled “Commends Bitcoin and the cryptocurrency industry.”, which was passed yesterday, was enrolled and signed by House of Representatives Speaker Mark Wright. As a matter of fact, the speaker has always been a fan of Bitcoin and of blockchain technology.
Consequently, the move will help Wright in his bid to establish a licensing regime for cryptocurrency-related businesses in the state of Louisiana. “To commend Bitcoin for its success in becoming the first decentralized trillion-dollar asset and to encourage the state and local governments to consider ways that could help them benefit from the increased use of this new technology,” the bill reads.
The bill went on to commend Bitcoin’s journey, which began in 2009 and has grown massively over the years. Undoubtedly, the House praised Bitcoin as a critical tool for businesses. To be sure, it is also a useful tool for citizens around the world to protect themselves from currency debasement.
“THEREFORE, BE IT RESOLVED that the House of Representatives of the Legislature of Louisiana does hereby commend Satoshi Nakamoto for his contribution to economic security. BE IT FURTHER RESOLVED that the House of Representatives of the Legislature of Louisiana does hereby commend Bitcoin for its success in becoming the first decentralized trillion-dollar asset and encourage the state and local governments to consider ways that could help them benefit from the increased use of this new technology,” the bill concluded.
Louisiana bullish on Bitcoin and blockchain
This latest development reveals that the state of Louisiana is bullish on Bitcoin and blockchain technology. More importantly, the bill said the state intends to consider ways to leverage the cryptocurrency and its underlying technology. The goal is to help with some economic activities.Clearly, Bitcoin has come a long way in recent years. Governments and institutions were previously against it, but some of them now consider the cryptocurrency to be an asset. They also see it as a hedge against inflation.
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