Introduced February 19, 2025
HB701
Log in to followAN ACT relating to blockchain digital assets.
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.
Plain-language summary
This law establishes legal definitions and rules around blockchain technology and digital assets in Kentucky. It protects the right of individuals to use digital assets and self-hosted wallets, shields digital asset mining businesses from discriminatory local zoning rules, and clarifies that home mining and operating a network node do not require a money transmitter license or count as selling a security. Who it may affect: individuals who use or invest in digital assets, people who mine cryptocurrency at home or as a business, and local governments with zoning authority.
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Legislative History
Primary Sponsor
Adam Bowling
Representative · House District 087
Co-sponsors (1)
T.J. Roberts
Representative · House District 066
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