kentucky

A bill in Kentucky, USA, aimed at regulating cryptocurrency ATMs (HB380), has sparked controversy in the industry due to newly added hardware wallet-related provisions. Critics claim that the regulation may "effectively ban self-custody."The bill originally focused on operators of virtual currency kiosks, covering licensing, compliance requirements, transaction limits, and user protection. However, in the latest revision, new provisions require hardware wallet providers to "offer mechanisms and assist users in resetting access credentials," including passwords, PINs, and recovery phrases. Industry insiders point out that this requirement conflicts with the core design of non-custodial wallets. Since private keys and recovery phrases are solely controlled by the user, wallet providers themselves cannot access or recover this information, making the provision technically difficult to implement.Institutions like the Bitcoin Policy Institute have stated that such regulations effectively create a "backdoor" for wallets, undermining the security of crypto assets and potentially forcing users to turn to centralized custodial services. The bill still needs to be reviewed by the state Senate, and the relevant provisions may still be modified or removed.

ChainCatcher news, just days after South Carolina dismissed its staking lawsuit against cryptocurrency exchange Coinbase, Kentucky has become the third state to withdraw such a lawsuit, following Vermont. Kentucky's financial regulators submitted a joint motion to dismiss on Monday, officially ending the legal action against Coinbase's staking services. The service had previously been accused of violating state securities laws.Coinbase's Chief Legal Officer Paul Grewal stated on the X platform: "Congress needs to pass the federal market structure bill as soon as possible to end this litigation-driven, state-by-state regulatory approach."

ChainCatcher News: The Governor of Kentucky officially signed HB701 into law on March 24, local time, ensuring residents' rights to use digital assets, self-custody wallets, and operate blockchain nodes. The bill explicitly excludes such activities from money transmission licensing and securities regulation, and restricts local governments from discriminatory regulation of related technological activities.

ChainCatcher news, according to Bitcoin Magazine, the Kentucky State Senate passed a bill protecting the rights of Bitcoin self-custody and digital asset mining with a unanimous vote of 37-0. The bill, titled "An Act Relating to Blockchain Digital Assets" (HB 701), has now been sent to the governor's office for final approval.The bill was introduced by Adam Bowling and T.J. Roberts, confirming individuals' rights to self-custody digital assets through self-custody wallets. Additionally, the bill prevents discriminatory local zoning laws against digital asset mining businesses, ensuring that Bitcoin miners can operate freely within the state.Key provisions of the bill include: protection of Bitcoin self-custody rights; prohibition of discriminatory zoning laws; exemption of home Bitcoin miners and digital asset mining businesses from money transmission licensing requirements; and a clear statement that digital asset mining and staking services do not fall under securities laws in Kentucky.The bill previously passed the Kentucky House of Representatives on February 28, 2025, with a vote of 91-0. If signed by the governor, Kentucky will become one of the more Bitcoin-friendly states in the U.S.

ChainCatcher News: The cryptocurrency bill HB701 in Kentucky has passed the Senate and is now on the governor's desk awaiting signature. The bill protects custodial rights, exempts nodes from money transmission rules, and prohibits new taxes on payments. The bill passed both chambers with no votes against it.

ChainCatcher News, Kentucky has become the 16th state to propose legislation to establish a Bitcoin reserve, with the bill KY HB376 introduced by Kentucky Representative Theodore Joseph Roberts on February 6.If passed, it will authorize the state investment board to allocate up to 10% of excess state reserves to digital assets, including Bitcoin.

ChainCatcher news, Kentucky Representative TJ Roberts has initiated HB376, proposing to invest 10% of state funds in digital assets (Bitcoin) with a market capitalization over $750 billion. Kentucky is now the 16th state to propose a Bitcoin reserve bill.

ChainCatcher news, according to the Associated Press, Trump won Indiana and Kentucky, while Harris won Vermont.

ChainCatcher news, according to CCTV News, on November 5 at 6 PM Eastern Time (7 AM Beijing Time on the 6th), except for a few congressional districts, polling stations in Indiana and Kentucky gradually closed, becoming the first two states to end voting in the 2024 U.S. presidential election, and the counting of votes immediately began.