Nebraska bill calls for fair play for crypto mining, ownership
The Nebraska legislature has seen the introduction of a bill that seeks to establish basic crypto standards in the state.
On January 5th, Nebraska State Senator Eliot Bostar introduced Bill 911, which seeks to adopt blockchain legislation. The bill aims to establish regulations to promote a safe and legal cryptocurrency mining, holding and trading environment for Nebraska citizens.
Blockchain's basic law allows individuals to host blockchain nodes and conduct crypto mining operations in residential properties without the need to hold a license. However, all operators will be subject to local noise regulations. On the other hand, Crypto businesses are required to operate only from selected industrial zones.
The law prohibits political subdivisions from repealing existing noise pollution limits, imposing new requirements that do not apply to data centers, or rezoning. Additionally, the Basic Law of Blockchain does not consider services to be securities in Nebraska.
Related: IRS rules require reporting of $10k crypto transactions by 2024
In addition, the bill protects individual investors' right to self-regulation and protects against crypto taxes imposed in Nebraska. In Bostar's efforts to establish a level playing field for crypto, California State Senator Steve Padilla introduced two bills on January 4th to create a “safe and ethical framework” for artificial intelligence (AI) service providers operating in the state.
If passed into law, Senate Bill 892 would require the California Department of Technology to establish security, privacy and non-discrimination measures for AI services in the state, while Senate Bill 893 would require the State Operations Agency, the Governor's Office of Business and Economic Development and the Department of Technology to establish an AI research center in the state.
According to Padilla, the proposed legislation will help stop the monopolization of the few companies that control the future of AI. “This is a public good that should benefit all of our communities, and we need to make public investments to ensure that a few billionaires don't control our future,” he said.
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