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Kentucky Lawmakers Submit Bill To Make The State More Crypto-Friendly
Summary: Kentucky lawmakers submitted a bill last week that aims to make the state a more attractive location for Bitcoin miners, as reported by The Block. The act titled "AN ACT relating to the taxation of the commercial mining of cryptocurrency" was submitted by State Representatives Steven Rudy and Chris Freeland. The bill centers around changes to state ...
Kentucky lawmakers submitted a bill last week that aims to make the state a more attractive location for Bitcoin miners, as reported by The Block.
The act titled "AN ACT relating to the taxation of the commercial mining of cryptocurrency" was submitted by State Representatives Steven Rudy and Chris Freeland. The bill centers around changes to state law that, if approved and signed into law, would provide "sales and use tax exemptions on the tangible personal property directly used and the electricity used in commercial mining of cryptocurrency as of the date of approved application" with additional incentives focused on energy use.
Authors noted that Kentucky could become a leader in the commercial cryptocurrency mining space. The bill was submitted on January 8 and is at its earliest stages, according to public data.
By Emily Mason
Tags: Bitcoin Mining,Cryptocurrency,Kentucky
Link: Kentucky Lawmakers Submit Bill To Make The State More Crypto-Friendly [Copy]
