Nebraska State Senator Eliot Bostar has introduced a bill to establish basic cryptocurrency standards in the state. The legislative bill 911, also known as the Blockchain Basics Act, was introduced on January 5. The bill’s primary objective is to create a safe and legal environment for cryptocurrency mining, holding, and trading for Nebraska’s citizens.
The Blockchain Basics Act would permit individuals to host blockchain nodes and carry out cryptocurrency mining operations in residential properties without the need for licenses. However, all operators would be required to comply with local noise ordinances. Cryptocurrency businesses, however, would be mandated to operate exclusively from designated industrial zones.
The bill also includes provisions to prevent political subdivisions from overriding existing sound pollution limits, imposing new requirements that do not apply to data centers, or making zoning changes. Notably, the Blockchain Basics Act will not classify staking services as security in Nebraska.
Investor rights are also addressed in the bill, which aims to protect every investor’s right to self-custody and provide protection against deterrent cryptocurrency taxes in Nebraska.
Meanwhile, in California, State Senator Steve Padilla has introduced two bills aimed at creating a “safe and ethical framework” for artificial intelligence (AI) service providers. Introduced on January 4, Senate Bill 892 would require California’s Department of Technology to establish safety, privacy, and nondiscrimination standards for AI services. Senate Bill 893 would mandate the Government Operations Agency, the Governor’s Office of Business and Economic Development, and the Department of Technology to establish an AI research hub within the state.
Padilla believes that the proposed legislation would prevent a monopoly of a few companies controlling the future of AI. He stated, “This is a public good that must benefit all in our society,” and emphasized the need for public investments to prevent a few billionaires from controlling our future.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | Steve Padilla, Eliot Bostar |
| Companies | California’s Department of Technology, Government Operations Agency, Department of Technology, Nebraska Legislature, Governor’s Office of Business and Economic Development, IRS |
| Currencies | None |
| Securities | None |
