Kentucky Governor Andy Beshear signed House Bill 701 into law on Monday, granting individuals the right to hold and manage their cryptocurrency in self-hosted wallets. The legislation, which received unanimous bipartisan support, also prohibits local governments from enacting discriminatory laws against crypto mining and clarifies that mining and staking are not securities under Kentucky law. Furthermore, operating blockchain nodes and engaging in staking activities are explicitly exempted from Kentucky’s money transmitter regulations. This move aligns Kentucky with other states like Utah in embracing cryptocurrency.
Kentucky Enacts Law Protecting Self-Hosted Crypto Wallets
Edited by: Yuliya Shumai
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