Kentucky Governor Andy Beshear signed House Bill 701 (HB 701) into law on Monday, establishing protections for bitcoin and cryptocurrency use within the state.
The legislation received unanimous bipartisan support in both chambers of the Kentucky legislature, passing the House 91-0 on Feb. 28 and the Senate 37-0 on Mar. 13 before landing on the governor’s desk for final approval.
HB 701, titled "An Act relating to blockchain digital assets," introduces several key provisions to foster a crypto-friendly environment in Kentucky.