Kentucky Governor Enacts ‘Bitcoin Rights’ Legislation
Kentucky Governor Andy Beshear has officially signed the “Bitcoin Rights” bill (House Bill 701) into law, providing significant protections for cryptocurrency users in the state. This legislation safeguards the rights of individuals to self-custody digital assets, operate crypto nodes, and engage in crypto-related activities without fear of discrimination.
Key Provisions of Kentucky’s Bitcoin Rights Bill
- Protects the right to self-custody digital assets and operate crypto nodes.
- Prevents local zoning laws from discriminating against cryptocurrency mining operations.
- Excludes crypto mining from money transmitter license requirements.
- Clarifies that mining and staking activities are not considered securities offerings.
The bill was introduced by Representative Adam Bowling on February 19 and received unanimous support in both the Kentucky House (91-0) and Senate (37-0). Governor Beshear signed the bill into law on March 24.
This legislation mirrors similar measures enacted in Oklahoma in May 2024, highlighting a growing trend among U.S. states to establish clear legal frameworks for cryptocurrency activities.
Other States Advance Bitcoin Reserve Legislation
Meanwhile, Oklahoma’s House Bill 1203, known as the Strategic Bitcoin Reserve Act, has successfully passed the state’s House of Representatives with a vote of 77-15. The bill, introduced by Representative Cody Maynard, aims to establish a strategic Bitcoin reserve for the state. It now awaits Senate approval before reaching the governor’s desk.
Arizona currently leads the race among states pursuing Bitcoin reserve legislation, with two bills recently clearing the House Rules Committee and heading for a full House vote. Missouri is also evaluating similar legislation through its Special Committee on Intergovernmental Affairs.
Crypto advocacy groups, including the Satoshi Action Fund and Bitcoin Laws, have praised these legislative developments, emphasizing their importance in fostering crypto-friendly environments across the United States.
Quick Summary
- Kentucky enacts “Bitcoin Rights” bill protecting crypto users.
- Oklahoma advances strategic Bitcoin reserve legislation.
- Arizona and Missouri also progressing with similar Bitcoin reserve bills.
These legislative moves reflect increasing acceptance and integration of cryptocurrency into state-level financial strategies and legal frameworks.
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