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    Nebraska bill seeks fair play for crypto mining, ownership

    2024.01.08 | exchangesranking | 146onlookers

    The Nebraska Legislature saw the introduction of a bill seeking to establish basic crypto standards in the state.

    On Jan. 5, Nebraska State Senator Eliot Bostar introduced the legislative bill 911, which seeks to adopt the Blockchain Basics Act. The bill aims to establish regulations to promote a safe and legal cryptocurrency mining, holding and trading environment for the citizens of Nebraska.

    The Blockchain Basics Act would allow individuals to host blockchain nodes and conduct crypto mining operations in residential properties without requiring them to hold licenses. However, all operators would also be subject to compliance with local noise ordinances. Crypto businesses, on the other hand, would be required to operate from designated industrial zones only.

    The bill also prohibits political subdivisions from overriding existing sound pollution limits, imposing new requirements that don’t apply to data centers or making zoning changes. Additionally, the Blockchain Basics Act will not consider staking services as security in Nebraska.

    Related: IRS rules require reporting data from $10k crypto transactions in 2024

    Furthermore, the bill will safeguard every investor’s right to self-custody and provide protection against deterrent crypto taxes in Nebraska. Concurrent with Bostar’s efforts to establish a level-playing ground for crypto, California State Senator Steve Padilla introduced two bills to create a “safe and ethical framework” for artificial intelligence (AI) service providers working in the state on Jan. 4.

    If passed into law, Senate Bill 892 would require California’s Department of Technology to establish standards of safety, privacy and nondiscrimination for AI services within the state, while Senate Bill 893 would require 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.

    According to Padilla, the proposed legislation would help stop a monopoly of a few companies controlling the future of AI. “This is a public good that must benefit all in our society,” he said, “and we must make public investments to prevent a few billionaires controlling our future.”

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