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Kentucky Governor Signs HB701 into Law, Protecting Bitcoin Self-Custody Rights

Kentucky Governor Andy Beshear has signed the 'Bitcoin Rights' bill (HB701) into law, the fifth such bill supported by the Satoshi Action Fund
By: DeepNewz • March 25, 2025
Kentucky Governor Signs HB701 into Law, Protecting Bitcoin Self-Custody Rights

Kentucky Governor Andy Beshear has signed the 'Bitcoin Rights' bill (HB701) into law, the fifth such bill supported by the Satoshi Action Fund. The legislation, unanimously supported in both the Kentucky House and Senate, protects the rights of individuals to self-custody digital assets, run nodes, and use cryptocurrencies without fear of discrimination. It also allows for digital asset payments without extra taxation.

The law prevents local governments from enacting zoning regulations that could unfairly target cryptocurrency mining operations. Furthermore, it clarifies that neither mining nor staking rewards are classified as securities, and it exempts the operation of blockchain nodes and staking from Kentucky's money transmitter regulations.

This move by Kentucky aligns with actions in 19 other states exploring cryptocurrency, including Oklahoma, Arizona, and Missouri, which are considering establishing Bitcoin reserves for public funds.

This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.

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