Bill
LC 1334
LC 1334 is a non-binding resolution opposing digital currency, signaling the Legislature's stance with no legal effect; the draft died in process and did not advance.
Status and basics
- Bill number: LC 1334
- Title: Resolution against digital currency
- Classification: bill (resolution)
- Subject: Information Technology and Communications
- Introduced: November 12, 2024
- Current status: Draft Died in Process
- Legislative actions:
- 2024-11-12: Drafter Assigned; Draft On Hold
- 2024-12-02: Draft On Hold
- 2025-05-26: Draft Died in Process
Overview and purpose
- Nature of bill: LC 1334 is a resolution, not a law. Resolutions typically express the legislative body’s position on a policy issue rather than create binding legal requirements.
- Stated aim: The bill appears to articulate opposition or concerns about digital currency. As a resolution, its primary purpose would be to formally state the Legislature’s stance on digital currency technology and related policy considerations, rather than to regulate or authorize state actions directly.
Key provisions (as a resolution, and based on the title)
- Preamble or findings: Likely to set forth concerns about digital currency—such as consumer protection, monetary policy, financial stability, security, illicit use, or oversight gaps.
- Legislative declarations: A formal statement of opposition or caution regarding digital currencies, possibly labeling them as risky or inappropriate under current circumstances.
- Requests or directives (non-binding): Could include recommendations to state agencies, committees, or the public, such as urging caution in adopting digital currency practices, urging further study, or calling for specific policy reviews.
- Scope and applicability: As a resolution, provisions would generally apply to the Legislature’s position and communications, rather than imposing duties on private actors or creating enforceable standards.
Who is affected
- Primary effect: Signals the Legislature’s position on digital currency to state agencies, public agencies, policymakers, industry stakeholders, and residents.
- Direct effects: Typically minimal in legal force since resolutions are non-binding; they do not create penalties or new programs.
- Indirect effects: May influence future policy debates, budget considerations, or agency planning related to information technology and financial technology.
Procedural and timeline notes
- Drafting process: A drafter was assigned on November 12, 2024; the draft was placed on hold shortly thereafter.
- Status trajectory: After being on hold, the draft progressed to “Died in Process” by May 26, 2025, indicating it did not advance toward adoption or further committee consideration.
- Implications of status: The measure did not become a formal resolution or policy. It may reflect shifting priorities or lack of consensus during the legislative session.
What to review next
- If available, review the actual text of LC 1334 to confirm the exact language, findings, and any non-binding directives.
- Consider surrounding debates in information technology and communications policy to understand why a “resolution against digital currency” would have been proposed and why it may have stalled.
Compiled from official sources — confirm details with the bill’s official record.
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