Kentucky Governor Signs Bitcoin Rights Bill Into Law

Kentucky Governor Andy Beshear has signed the “Bitcoin Rights” bill into law, solidifying protections for crypto users, while similar Bitcoin reserve proposals are progressing in other U.S. states.

In a March 24 statement on X, crypto advocacy group the Satoshi Action Fund said House Bill 701 protects the “right to self-custody, run a node, and use of digital assets” without “fear of discrimination.”

Initially introduced in the Kentucky House by Representative Adam Bowling on February 19, HB701 is described as a measure that upholds the right to use digital assets and self-custody wallets, and prohibits local zoning changes that target crypto mining operations.

The bill also includes provisions outlining rules for operating a crypto node, exempts crypto mining from money transmitter license requirements, and clarifies that mining and staking are not considered securities offerings.

HB701 passed Kentucky’s House of Representatives unanimously on February 28 and received full approval from the state Senate on March 13.

Governor Beshear signed the bill into law on March 24.

The legislation is similar to a bill signed into law in Oklahoma by Governor Kevin Stitt in May 2024.

In addition to HB701, Kentucky has introduced a separate proposal to establish a Bitcoin reserve.

The bill, still under consideration, would allow the State Investment Commission to allocate up to 10% of excess state funds into digital assets such as Bitcoin.

Elsewhere, momentum for Bitcoin reserves continues to grow.

Oklahoma’s House Bill 1203, also called the Strategic Bitcoin Reserve Act, passed the State House of Representatives by a vote of 77 to 15, according to the Oklahoma Bitcoin Association.

Introduced by Representative Cody Maynard on January 15, the bill passed the Government Oversight Committee on February 25 with a 12–2 vote.

It now awaits review in the Senate before potentially being signed or vetoed by the governor.

Separately, State Senator Dusty Deevers filed a proposal on January 8 that would allow residents to receive salaries in Bitcoin.

According to a March 24 X post by Bitcoin Laws, Oklahoma is now tied with Texas in second place in the race for state-level Bitcoin reserves.

Arizona currently leads, with two digital asset reserve bills clearing the House Rules Committee on March 24 and moving to the House floor for a full vote.

Bitcoin Laws also noted that, due to Republican control of the Oklahoma Senate and governorship, the bill “has a good chance to pass into law.”

Meanwhile, Missouri’s Special Committee on Intergovernmental Affairs is reviewing its own Bitcoin reserve proposal, Bitcoin Laws reported.

Sources:

https://cointelegraph.com/news/kentucky-signs-bitcoin-rights-bill-into-law

https://x.com/SatoshiActFund/status/1904312106838560845

https://apps.legislature.ky.gov/record/25rs/hb701.html

https://x.com/SatoshiActFund/status/1904312106838560845

https://apps.legislature.ky.gov/record/25rs/hb701.html

https://x.com/oklahomabtc/status/1904296761465679874

https://x.com/Bitcoin_Laws/status/1904300048080662628

https://x.com/Bitcoin_Laws/status/1904300048080662628/photo/1

https://x.com/Bitcoin_Laws/status/1904341349345935805