Kentucky signs Bitcoin rights bill as Oklahoma advances reserve

Kentucky’s Governor Andy Beshear has signed the “Bitcoin Rights” bill into law, providing protections for cryptocurrency users in the state.

The bill, known as House Bill 701, safeguards the right to self-custody, use digital assets, and run a crypto node.

The legislation also prevents local zoning changes that could discriminate against crypto mining and clarifies that mining and staking are not considered selling securities.

Rep. Adam Bowling introduced the bill to the Kentucky House on February 19, and it passed through both the House and Senate with unanimous support before being signed into law on March 24.

According to the Satoshi Action Fund, the bill ensures that people can use crypto assets without fear of discrimination.

In addition to the protections, Kentucky’s legislation allows the State Investment Commission to allocate up to 10% of excess state reserves into digital assets, including Bitcoin (CRYPTO:BTC).

However, this bill is still under review.

Meanwhile, in Oklahoma, the Strategic Bitcoin Reserve Act (HB 1203) has passed the State House of Representatives and is one step closer to becoming law.

Introduced by Rep. Cody Maynard in January, the bill passed the Government Oversight Committee in February with overwhelming support.

If it passes the Oklahoma Senate, it will move to the governor’s desk.

The bill aims to establish a state Bitcoin reserve, and its progress has brought Oklahoma closer to competing with Texas for leadership in the Bitcoin reserve race.

Arizona is also moving forward with similar legislation, with two strategic digital asset reserve bills recently passing the House Rules Committee.

As more states evaluate Bitcoin reserve bills, Missouri’s Special Committee on Intergovernmental Affairs is also considering a similar proposal.

At the time of reporting, the Bitcoin (BTC) price was $86,485.60.