HB 701
AN ACT relating to blockchain digital assets.
In Plain Language
This bill lets people use digital assets and self-hosted wallets, and says local governments can't change zoning rules to single out digital asset mining businesses. It removes the requirement for money transmitter licenses for home mining, mining businesses, and node operations. It also clarifies that providing mining or staking services isn't considered selling securities.
Official summary
Create new sections of KRS Chapter 369 to define terms relating to blockchain technology; allow individuals to use digital assets and self-hosted wallets; prohibit local zoning changes that discriminate against a digital asset mining business; provide guidelines for operation of a node; amend KRS 286.11-007 to exclude home digital asset mining, digital asset mining business, and the operation of a node from money transmitter license requirements; amend KRS 292.340 to provide that digital asset mining or staking as a service shall not be deemed to be offering or selling a security.
Sponsor
—
Cosponsors
None listed
Latest action
signed by Governor (Acts Ch. 50)
Mar 24, 2025
Official source
Action history
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