March 18, 2025
Focusing On Self-Custody
The bill, introduced by Representatives Adam Bowling and T.J. Roberts, allows individuals to manage their own digital assets and safeguards Bitcoin miners from restrictive zoning laws.
Source: X (@BitcoinMagazine)
It also removes certain licensing requirements for small-scale miners, making it easier for independent participants to join the industry.
No Additional Taxes
HB 701 clarifies that Bitcoin mining and staking are exempt from securities and money transmitter regulations, thereby reducing risks for businesses. It also ensures digital assets used as payment won’t face additional taxes beyond standard financial transactions.
With both legislative chambers passing the bill, Kentucky is poised to attract more crypto innovation. Separately, lawmakers are considering a proposal to establish a Bitcoin reserve using surplus funds.
