Source: Kentucky General AssemblyKentucky 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 forwardMeanwhile, 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.
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. Source: Satoshi Action FundAt 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 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 forcesIt must now pass through the Senate before the Oklahoma governor can veto or sign the bill into law.
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Author / Journalist: Cointelegraph by Stephen Katte
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