Crypto Becomes legal in Kentucky

     On March 24, the Governor of Kentucky, Andy Beshear, signed House Bill 701, also known as the Blockchain Digital Assets Act, into law. Introduced by Representative Adam Bowling in February, this bill makes Bitcoin a legal right in Kentucky. The bill becoming an act has cemented Kentucky's role as a crypto-friendly state.

Development of the Crypto Landscape in Kentucky

     Kentucky's new law now allows people to carry out crypto transactions, mining and staking activities without interference from local authorities. This is a significant victory for crypto users in the United States. Kentucky’s legislation is now being referred to as the “Bitcoin Rights” law.

Flight Towards Crypto Hub

     This law positions Kentucky to become a central hub for the crypto industry in the US. Kentucky ranks as the 36th largest state by area and the 25th largest by population. It is five times larger than El Salvador by area and has a climate that is conducive to mining. Now, mining companies have strong incentives to produce renewable energy.

Originally published on Wubits