Key Takeaways
- Kentucky Governor Andy Beshear signed the 'Bitcoin Rights' bill into law on March 24.
- The law protects the right to self-custody, node operation, and mining without discrimination.
- Kentucky joins several states pursuing legislation to establish Bitcoin reserves.
On March 24, Kentucky Governor Andy Beshear signed House Bill 701 — known as the ‘Bitcoin Rights’ bill — into law, enshrining protections for Bitcoin users and miners in the state.
Key provisions of the law
The new law guarantees the right to self-custody, the ability to run a node, and protection from discrimination for using digital assets.
Introduced by Representative Adam Bowling on February 19, the bill also blocks zoning changes that target mining operations and excludes miners from money transmitter licensing requirements.
Clarification on mining & staking
Additionally, the bill clarifies that mining and staking do not qualify as offering or selling securities.
It received overwhelming bipartisan support, passing the Kentucky House 91–0 and the Senate 37–0 before being signed by the governor.
Advocacy & implications
Crypto advocacy group Satoshi Action Fund called the legislation a defense of basic digital asset rights, saying it protects users from being penalized for holding or using Bitcoin.
Context & future developments
This move follows a similar law passed in Oklahoma in May 2024 and coincides with Kentucky’s own exploration of a Bitcoin reserve.
A separate bill still under review proposes allowing the state’s Investment Commission to allocate up to 10% of excess state reserves into Bitcoin.
Meanwhile, Oklahoma’s Strategic Bitcoin Reserve Act (HB 1203) passed its House of Representatives 77–15 and now awaits Senate approval.
Arizona continues to lead the race, having advanced two digital asset reserve bills through committee.
