The Kentucky Senate passed House Bill 701 unanimously on March 13, 2025, aiming to advance regulations on blockchain assets. The bill now awaits the Governor’s approval.

If signed, HB701 can transform Kentucky into a Bitcoin-friendly state, possibly attracting blockchain businesses, reflecting a broader acceptance of cryptocurrency regulations nationwide.

Kentucky Senate Unanimously Passes HB701 for Blockchain

On March 13, 2025, the Kentucky Senate passed HB701 without opposition, propelling it to the Governor’s desk. This legislative move underscores a progressive approach toward blockchain asset governance.

The bill’s sponsors, Representatives Adam Bowling and T.J. Roberts, spearheaded the effort to establish clear rights for Bitcoin self-custody and exempt digital miners from money transmitter licensing requirements.

“This bill is a significant step forward in protecting the rights of Bitcoin self-custody holders in Kentucky.” — Senator T.J. Roberts, Co-Sponsor, Kentucky House of Representatives.

Bitcoin Price at $56,780 Amid Kentucky Legislative Progress

The latest Bitcoin price data displays a value at $56,780, with fluctuations between $56,000 and $57,500. This mirrors the cryptocurrency’s typical volatility, sustaining a trending resistance at $57,500.

Experts suggest the legislative progress in Kentucky could inspire broader cryptocurrency regulatory adoption. The enactment of such laws might enhance investor confidence and foster more blockchain technology investments.

Kentucky Poised as Cryptocurrency Regulation Leader

Past legislative measures in states like Wyoming and Texas have similarly promoted blockchain-friendly environments. These measures typically led to increased industrial interest and development in those regions.

Experts emphasize that Kentucky’s approach, based on legal data and comparative trends, could promote a significant industry shift. This legislation might well position Kentucky as a leader in cryptocurrency regulation.

The post Kentucky Senate Approves Cryptocurrency Bill HB701 Unanimously appeared first on Kanalcoin.

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Filed under: News - @ March 15, 2025 2:28 am