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Kentucky Senate Passes Bill Protecting Bitcoin Self-Custody Rightsbitcoinmagazine.com/news/kentucky-senate-passes-bill-protecting-bitcoin-self-custody-rights
1512 sats \ 4 comments \ @Aardvark 15 Mar bitcoin
Yesterday evening, the Kentucky Senate unanimously passed a bill aimed at protecting Bitcoin self-custody rights and digital asset mining operations. With a decisive 37-0 vote, the legislation, titled AN ACT relating to blockchain digital assets (HB 701), now moves to the Governor’s desk for final approval.
Personally I'd rather see more roadblocks for government seizure, than SBR's
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121 sats \ 0 replies \ @optimism 15 Mar
the current text for HB701
(1) An individual shall not be prohibited from: (a) Accepting digital assets for payment for legal goods or services; or (b) The use of a wallet.
and
(3) A person: (a) Operating a node or series of nodes on a blockchain network; or (b) Providing staking as a service; shall have no liability for a specific transaction if the person only validates the transaction.
Having this literally in there is actually pretty awesome (but idk why staking as a service is in there too tho. Conbase lobby?)
(2) Digital assets used as a method of payment shall not be subject to additional taxes, withholdings, assessments, or charges that are based solely on the use of the digital asset as the method of payment
Does no additional assessments mean no cap gains tax when paying with sats?
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54 sats \ 1 reply \ @Undisciplined 15 Mar
For sure, also repealing capital gains taxes on bitcoin transactions.
Still, SBR's potentially improve incentives for other pro-bitcoin policies. They also incentivize seizure, unfortunately.
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41 sats \ 0 replies \ @Aardvark OP 15 Mar
Removing capital gains would be absolutely nuts, in a good way.
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0 sats \ 0 replies \ @itsrealfake 15 Mar
roadblocks for government seizure
amen. people do as incentives encourage... so fix those first
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