Nebraska's Crypto Renaissance: Bill Proposes Equal Ground for Mining & Ownership

The Nebraska Legislature recently witnessed the presentation of a bill to institute fundamental crypto standards within the state.

On Jan 5, State Senator Eliot Bostar unveiled Legislative Bill 911, which advocates for adopting the Blockchain Basics Act. This proposed legislation endeavors to establish guidelines fostering a secure and lawful environment for cryptocurrency mining, possession, and trading for the residents of Nebraska.

Under the provisions of the Blockchain Basics Act, individuals would be permitted to host blockchain nodes and engage in crypto-mining activities on residential properties without the need for licensing. However, all operators would need to adhere to local noise ordinances. In contrast, crypto-related businesses must operate exclusively from designated industrial zones.

The legislation also bars local entities from surpassing established noise pollution thresholds, implementing fresh mandates exclusive to data centers, or altering zoning regulations. Furthermore, within Nebraska, staking services will not be classified as securities under the Blockchain Basics Act.

Nebraska Proposes Crypto Autonomy & Tax Protections With Bostar’s Initiatives

Moreover, the legislation aims to ensure the autonomy of each investor by allowing for self-custody rights and shielding them from burdensome cryptocurrency taxes in Nebraska.

In tandem with Bostar’s initiatives to establish fairness in the crypto landscape, California State Senator Steve Padilla proposed two bills on Jan 4 to develop a “secure and ethical framework” for artificial intelligence (AI) service providers operating within the state.

If enacted, Senate Bill 892 mandates the California Department of Technology to set forth distinctive criteria for safety, privacy, and nondiscrimination in the realm of AI services within the state.

Simultaneously, Senate Bill 893 necessitates collaboration among the Government Operations Agency, the Governor’s Office of Business and Economic Development, and the Department of Technology to establish a groundbreaking AI research hub within the state.

As per Padilla’s perspective, the suggested bill aims to thwart the dominance of a handful of corporations dictating the trajectory of AI’s future. “This represents a communal asset that should serve the entire spectrum of our society,” he emphasized, asserting the necessity for public financial commitments to avert the undue influence of a select group of billionaires over our collective destiny.

The author’s views are for reference only and shall not constitute any investment advice. Please ensure you fully understand and assess the products and associated risks before purchasing.