Kentucky governor signs ‘Bitcoin Rights’ bill into law

Kentucky governor Andy Beshear has signed a measure known as the “Bitcoin Rights” bill, into law, enshrining protections for crypto users, as two other US states’ Bitcoin reserve legislation advanced.

Crypto advocacy group the Satoshi Action Fund said in a March 24 statement to X that House Bill 701 protects the “right to self-custody, run a node, and use of digital assets” without “fear of discrimination.” 

First introduced to the Kentucky House by Rep Adam Bowling on Feb. 19, HB701’s description says it safeguards the right to use digital assets and self-custody wallets and bans local zoning changes that discriminate against crypto mining. 

At the same time, the legislation provides guidelines for running a crypto node, excludes crypto mining from money transmitter license requirements, and specifies that mining and staking are not considered offering or selling a security.

The bill passed Kentucky’s House of Representatives on Feb. 28, with all 91 representatives voting in favor, and passed the state Senate on March 13, with all 37 senators voting in favor. It was then signed into law by Beshear on March 24. 

The legislation mirrors similar legislation signed into law by Oklahoma Governor Kevin Stitt in May 2024. 

Kentucky has also introduced a bill to establish a Bitcoin reserve, allowing the State Investment Commission to allocate up to 10% of excess state reserves into digital assets, including Bitcoin (BTC); the bill is still under review. 

Other Bitcoin reserve bills move forward

Meanwhile, Oklahoma’s House Bill 1203 (HB 1203), known as the Strategic Bitcoin Reserve Act, has passed the State House of Representatives 77 to 15, according to the crypto advocacy group, the Oklahoma Bitcoin Association.

The bill was introduced to the Oklahoma House of Representatives on Jan. 15 by state Representative Cody Maynard and passed the Government Oversight Committee with a 12–2 vote on Feb. 25. 

Related: Crypto bills stack up across the US, from Bitcoin reserves to task forces

It must now pass through the Senate before the Oklahoma governor can veto or sign the bill into law. Oklahoma State Senator Dusty Deevers also filed legislation on Jan. 8 that would allow residents in the state to receive salaries in Bitcoin. 

Bitcoin legislation tracker group Bitcoin Laws said in a March 24 X post that Oklahoma has now moved into equal second place with Texas in the State Bitcoin reserve race.

Arizona remains in the lead after two strategic digital asset reserve bills cleared Arizona’s House Rules Committee on March 24 and headed to the House floor for a full vote.

Bitcoin Laws speculates that because Republicans dominate the Oklahoma Senate and the governor is Republican, the bill “has a good chance to pass into law.” 

Missouri’s Special Committee on Intergovernmental Affairs is also in the process of evaluating the state’s Bitcoin reserve bill, according to Bitcoin Laws.

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