Source: Cointelegraph Original: "{title}"
Kentucky Governor Andy Beshear has signed the "Bitcoin Bill of Rights" into law, establishing protections for cryptocurrency users. Meanwhile, Bitcoin reserve legislation has also made progress in two other states in the U.S.
The cryptocurrency advocacy organization Satoshi Action Fund stated on March 24 on the X platform that the bill numbered HB701 guarantees the "right to self-custody assets, run nodes, and use digital assets," and that users need not "worry about discrimination."
The bill was introduced to the Kentucky House of Representatives by State Representative Adam Bowling on February 19, and its legislative explanation clearly states that the bill aims to protect the rights to use digital assets and self-custody wallets, and prohibits discriminatory zoning changes against cryptocurrency mining activities.
Source: Satoshi Action Fund
At the same time, the bill also establishes regulations for running cryptocurrency nodes, exempts cryptocurrency mining businesses from the requirement to obtain a money transmission license, and explicitly states that mining and staking activities do not constitute the issuance or sale of securities.
The bill passed unanimously in the Kentucky House of Representatives on February 28 (with all 91 representatives in favor) and subsequently received unanimous support in the state Senate on March 13 (with all 37 senators voting in favor). It was ultimately signed into law by Governor Beshear on March 24.
This legislation is similar to a bill signed by Oklahoma Governor Kevin Stitt in May 2024.
The Bitcoin Bill of Rights in Kentucky provides protections for cryptocurrency users in the state. Source: Kentucky Legislature
Kentucky has also proposed a bill to establish a Bitcoin reserve, which would allow the state investment council to allocate up to 10% of the state's excess reserves to digital assets like Bitcoin. This bill is currently under review.
Meanwhile, according to the cryptocurrency advocacy organization "Oklahoma Bitcoin Association," the state's HB 1203 "Bitcoin Strategic Reserve Act" has passed the state House of Representatives with a vote of 77 in favor and 15 against.
This bill, submitted by State Representative Cody Maynard on January 15, had previously passed the government oversight committee with a vote of 12 to 2 on February 25. The bill will next be voted on by the state Senate, with the governor ultimately deciding whether to sign it into law. Notably, State Senator Dusty Deevers had submitted legislation on January 8 allowing state residents to receive their salaries in Bitcoin.
Bitcoin legislation tracking organization "Bitcoin Laws" noted on March 24 on the X platform that Oklahoma is currently tied for second place in the "state-level Bitcoin reserve" legislative race with Texas.
Oklahoma is now tied for second place in the state Bitcoin reserve race. Source: Bitcoin Laws
Arizona continues to lead, with its two digital asset strategic reserve bills having passed the Arizona House Rules Committee on March 24 and set to enter the full House voting stage.
Bitcoin Laws analysts believe that given the Republican majority in the Oklahoma Senate and the Republican governor, the bill has a "high likelihood of passing."
According to Bitcoin Laws, the Missouri Intergovernmental Affairs Special Committee is also currently reviewing the state's Bitcoin reserve bill.
Related: Arizona's strategic cryptocurrency reserve bill set for full House vote
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