pull down to refresh

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

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?

reply

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.

reply

Removing capital gains would be absolutely nuts, in a good way.

reply
roadblocks for government seizure

amen. people do as incentives encourage... so fix those first

reply