Yesterday, the Kentucky Senate unanimously approved a law aimed at protecting Bitcoin and mining operations. The legislation titled A ACT relating digital assets on the blockchain Now that the bill has been passed, it will be sent to Governor for his final approval.
This bill was sponsored by Adam Bowling, T.J. Roberts and affirms that individuals have the right to own firearms. self-custody Digital assets can be stored in self-hosted wallets. This also stops local laws discriminating digital asset. mining Business, making sure that Bitcoin miners are allowed to operate in the state.
It contains several provisions that are important, such as:
- Self-custody protection for BitcoinThe law allows individuals to access and store their digital assets on self-hosted wallets.
- Interdiction of discriminatory Zoning LawsThe local governments can’t impose changes to zoning that unfairly targets digital asset mining companies.
- Money transmitter license exemptionsKentucky does not require money transmitters to be registered. This includes home Bitcoin miners.
- Clarifications of Securities LawsKentucky law does not classify digital asset mining or staking services as securities.
The Kentucky House is a great place to start. 91-0 After the Senate vote on 28 February 2025, this bill will move quickly through the Senate. Bipartisan support was evident in the March 13 vote. There were 37 Senators who voted in favor of the bill, 0 senators against, and 1 not voting.
Kentucky’s law will be officially amended with the signature of Governor Beshear, giving protection to Bitcoins in self-custody and mining digital assets. Kentucky would become one of most Bitcoin friendly states in America if it were signed. This will set an example for the rest of the states.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: bitcoinmagazine.com
