Bill
LC 1335
Overview: Bill Number: LC 1335, Title: Prohibit digital currency, Status: (LC) Draft Died in Process, Introduced: November 12, 2024Purpose and Intent: The main goal of this bill wa
Overview: Bill Number: LC 1335, Title: Prohibit digital currency, Status: (LC) Draft Died in Process, Introduced: November 12, 2024
Purpose and Intent: The main goal of this bill was to prohibit the use, acceptance, and circulation of digital currencies within the state. The legislation aimed to address concerns about the potential risks and instability associated with privately-issued cryptocurrencies and other forms of digital money.
Key Provisions:
- Ban the use of digital currencies as a medium of exchange for goods and services in commercial transactions
- Prohibit businesses and individuals from accepting digital currencies as payment
- Impose civil and criminal penalties for violations of the digital currency prohibition
Affected Parties and Impacts:
- Individuals and businesses that currently use or accept digital currencies would be required to cease these practices
- The legislation could have a significant impact on the emerging digital currency industry and its adoption within the state
Procedural and Timeline Considerations: This bill was introduced as a draft proposal (LC) but did not proceed further in the legislative process.
Compiled from official sources — confirm details with the bill’s official record.
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