KENTUCKY, CRYPTO FRIENDLY LEGAL REGULATIONS STAND OUT

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Kentucky Governor Andy Beshear signed House Bill 701 (HB 701) into law on March 24, 2025, implementing significant regulations for the use of cryptocurrency in the state. This law secures individuals' rights to store and manage cryptocurrency in their own digital wallets and prevents local governments from enacting discriminatory regulations against cryptocurrency mining operations. Additionally, it states that mining and staking services will not be considered securities under Kentucky law.

HB 701 was unanimously passed with a vote of 91-0 in the Kentucky House of Representatives and 37-0 in the Senate. The law also ensures that those wishing to run blockchain nodes and engage in staking activities are exempt from the state's money transfer regulations.

Furthermore, the Kentucky State Assembly is considering House Bill 376 (HB 376), which aims to establish a reserve for the state's digital assets. This law anticipates that the State Investment Committee will invest 10% of excess state reserves in digital assets with a market value of over $750 billion.

These legal regulations aim to position Kentucky as a cryptocurrency-friendly state, promoting the adoption of blockchain technology and digital assets.

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