In what is called a major development in the crypto regulation, the governor of the US state of Kentucky, Andy Beshear, signed the bill on “bitcoin rights” in law. The law promises to protect protection for bitcoin (BTC) users.
Bitcoin Rights Bill comes into force
Crypto regulations continue to develop according to PRO-Crypto US President Donald Trump’s administration. In recent developments, Kentucky has become the newest state to anchor protection for users of digital assets.
In an x post Crypto Advocacy Group Satoshi Action Fund was published on March 24, announced that Governor Beshear had signed the long-awaited Bitcoin right to law. The post stated:
The right to self -relationship, runs a node and the use of digital assets is now protected for millions of Americans without fear of discrimination.
The bill was first introduced to Kentucky House by rope. Adam Bowling on February 19. According to the bill’s description, it tries to protect users’ rights to use digital assets and self -knowledge. In addition, it aims to ban local zone changes that discriminate against crypto mining operations.
The legislation describes guidelines to operate a digital asset node and exclude you digital asset mining from the requirements for money. It also clarifies that crypto mining or bet is not considered an offer or sale of securities.
On February 28, the bill Kentucky’s House of Representatives adopted a unanimous vote of all 91 representatives in favor. It later passed the Kentucky senate on March 13 and received support from all 37 senators.
Kentucky’s proactive attitude towards Cryptocurrencies is not new. Earlier this year, the state became The 16th US state to introduce legislation trying to create a bitcoin strategic reserve.
At the same time, the adjacent state of Arizona also goes in the cryptom movement. A recent X post of bitcoin -laws revealed that Arizona’s chamber rules have passed Two Bitcoin Reserve bills – SB1373 and SB1025. These bills will now go to a complete floor vote.
Renewed optimism during the Trump administration
Following Trump’s victory in the November presidential election Cryptocurrency is developing rapidly, with many states introduction Legislation aimed at strengthening their digital asset ecosystems and attracting crypto companies.
Positive changes in crypto rules encourage industry companies to expand. For example, Crypto Trading Platform Coinbase recently leads announced plans to employ 1,000 employees in the United States.
Trump administration has also witnessed that several moods are dropped against large crypto units, including The collarThe Coin baseThe GeminiAnd others. At press time, bitcoin is $ 87 399, a decrease of 0.2% over the past 24 hours.
Featured image from unsplash.com, chart from tradingview.com
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