By Chris Hollingworth 
Kentucky Governor Andy Beshear recently signed into law the “Bitcoin Rights” bill, a measure aimed at providing protections for crypto users in the state. The bill, officially known as House Bill 701, was introduced to the Kentucky House by Representative Adam Bowling on February 19. It focuses on safeguarding the rights of individuals to self-custody their digital assets, run a node, and use cryptocurrencies without fear of discrimination.
The Satoshi Action Fund, a crypto advocacy group, highlighted the key provisions of HB701, which include protections for self-custody wallets, guidelines for running a crypto node, and a ban on local zoning changes that target crypto mining activities. Additionally, the legislation clarifies that activities such as mining and staking are not considered offering or selling securities.
The bill received overwhelming support in the Kentucky legislature, passing the House of Representatives on February 28 with unanimous approval from all 91 representatives and later passing the state Senate on March 13 with all 37 senators voting in favor. Governor Beshear signed the bill into law on March 24, enshrining protections for crypto users in Kentucky.
In a move to further embrace cryptocurrencies, Kentucky has also introduced a separate bill that would establish a Bitcoin reserve. This bill would allow the State Investment Commission to allocate up to 10% of excess state reserves into digital assets, including Bitcoin. The bill is currently under review, demonstrating the state’s growing interest in the crypto space.
Meanwhile, in Oklahoma, the Strategic Bitcoin Reserve Act, also known as House Bill 1203, has been making progress in the state legislature. Introduced by Representative Cody Maynard, the bill passed the State House of Representatives with a significant majority. If it successfully navigates the Senate approval process, it will require the governor’s signature to become law.
Oklahoma’s proactive stance on crypto legislation, including proposals to establish a Bitcoin reserve and allow residents to receive salaries in Bitcoin, has positioned the state as a key player in the evolving regulatory landscape. With similar initiatives underway in states like Arizona and Missouri, the adoption of crypto-friendly policies is gaining momentum across the United States.
As the crypto industry continues to evolve, the regulatory environment plays a crucial role in shaping its future trajectory. States like Kentucky and Oklahoma are at the forefront of embracing cryptocurrencies, setting a precedent for others to follow. The passage of bills like the “Bitcoin Rights” legislation reflects a growing recognition of the importance of protecting and promoting the use of digital assets in the modern economy.
