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Kentucky Enacts Bitcoin Rights Bill as State Bitcoin Reserves Gain Momentum
- Kentucky Governor Andy Beshear signed the “Bitcoin Rights” bill (HB701) into law, protecting crypto self-custody rights
- The bill passed with unanimous support in both Kentucky’s House and Senate
- Oklahoma’s Strategic Bitcoin Reserve Act passed the State House (77-15) and now heads to the Senate
- Kentucky has introduced a bill to allow up to 10% of excess state reserves to be allocated to digital assets
- The new law in Kentucky safeguards the right to use digital assets and self-custody wallets without discrimination
- Local zoning changes discriminating against crypto mining are banned by the legislation in Kentucky
- Kentucky's legislation provides guidelines for running a cryptocurrency node and exempts crypto mining from money transmitter license requirements
- The bill clarifies that mining and staking activities are not considered offering or selling a security, reducing regulatory burdens
- Oklahoma is also advancing Bitcoin reserve legislation, with the Strategic Bitcoin Reserve Act passing the State House
- Arizona, Texas, and Missouri are among the states advancing Bitcoin reserve legislation, showing growing acceptance of digital assets at the state level across America
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