Summary of Original Version

Create new sections of KRS Chapter 369 to define terms relating to blockchain technology; allow individuals to use digital assets and self-hosted wallets; provide an exemption of income tax for transactions less than $200; allow home digital asset mining and digital asset mining businesses to operate within local ordinances relating to noise pollution; amend KRS 141.019 and 141.039 to conform.

Summary of Amendment: House Committee Substitute 1

Summary Retain original provisions; define additional terms; create a new section of KRS Chapter 369 to provide guidelines for operation of a node; amend KRS 286.11-007 to exclude home digital asset mining, digital asset mining business, or the operation of a node from money transmitter license requirements; amend KRS 292.340 to state that digital asset mining or staking as a service shall not be deemed to be offering or selling a security.

Statutes affected:
Introduced: 141.019, 141.039
House Committee Substitute 1: 292.340
Current: 292.340