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KentuckyHB 7012025 Regular SessionHouse

AN ACT relating to blockchain digital assets.

Sponsored By: Adam Bowling (Republican)

Signed by Governor

EnergyLand UseLocal GovernmentPlanning and ZoningTaxation, Income--CorporateTaxation, Income--IndividualInformation TechnologyTechnology

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 1 benefits, 0 costs, 2 mixed.

Digital payments protected from extra state taxes

Kentucky protects your right to accept digital assets for legal goods or services and to use a digital-asset wallet. No one has to accept digital assets as payment. Kentucky governments cannot impose extra taxes, withholdings, assessments, or charges solely because a payment uses digital assets. The same taxes and charges can still apply as on similar transactions paid in U.S. money.

Blockchain operators gain exemptions and liability shields

Blockchain nodes can join networks, transfer digital assets, and take part in staking, which helps secure the network. People and businesses are exempt from Kentucky's money-services rules when they develop or deploy blockchain software. The exemption also covers those who exchange digital assets for other digital assets or run blockchain nodes. Node operators and staking-service providers have no liability for a specific transaction when they only validate it. This limits users' ability to hold those providers responsible for that transaction.

Staking services leave state securities oversight

Businesses offering staking services are not treated as offering or selling securities under Kentucky law. This removes state securities requirements for those offerings, along with the investor protections those requirements provide. Kentucky's Attorney General can still bring consumer-protection actions over staking services offered or provided to people or businesses.

Sponsors & Cosponsors

Sponsor

  • Adam Bowling

    Republican • House

Cosponsors

  • T.J. Roberts

    Republican • House

Roll Call Votes

All Roll Calls

Yes: 128 • No: 0

Senate vote • 3/13/2025

3rd reading, passed

Yes: 37 • No: 0

House vote • 2/28/2025

3rd reading, passed

Yes: 91 • No: 0

Actions Timeline

  1. signed by Governor (Acts Ch. 50)

    3/24/2025

  2. delivered to Governor

    3/14/2025

  3. enrolled, signed by President of the Senate

    3/14/2025House

  4. enrolled, signed by Speaker of the House

    3/14/2025House

  5. received in House

    3/14/2025House

  6. 3rd reading, passed 37-0

    3/13/2025Senate

  7. posted for passage in the Regular Orders of the Day for Thursday, March 13, 2025

    3/12/2025Senate

  8. 2nd reading, to Rules

    3/12/2025Senate

  9. reported favorably, 1st reading, to Calendar

    3/11/2025Senate

  10. to Banking & Insurance (S)

    3/6/2025Senate

  11. to Committee on Committees (S)

    3/4/2025Senate

  12. received in Senate

    3/4/2025Senate

  13. 3rd reading, passed 91-0 with Committee Substitute (1)

    2/28/2025House

  14. posted for passage in the Regular Orders of the Day for Friday, February 28, 2025

    2/27/2025House

  15. 2nd reading, to Rules

    2/27/2025House

  16. reported favorably, 1st reading, to Calendar with Committee Substitute (1)

    2/26/2025House

  17. to Banking & Insurance (H)

    2/25/2025House

  18. to Committee on Committees (H)

    2/19/2025House

  19. introduced in House

    2/19/2025House

Bill Text

  • Current

    2/28/2025

    PDF

  • Introduced

    2/19/2025

    PDF

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