The Nebraska Legislature recently witnessed the introduction of a bill aimed at establishing fundamental standards for cryptocurrencies within the state.
On January 5th, Nebraska State Senator Eliot Bostar presented Legislative Bill 911, which seeks to adopt the Blockchain Basics Act. The primary objective of this bill is to create a regulatory framework that fosters a secure and lawful environment for cryptocurrency mining, ownership, and trading activities for the residents of Nebraska.
Under the proposed Blockchain Basics Act, individuals would have the freedom to host blockchain nodes and engage in cryptocurrency mining activities within residential properties without the need for licensing, with the condition that they adhere to local noise ordinances. However, for cryptocurrency businesses, they would be mandated to operate exclusively within designated industrial zones.
Furthermore, the bill contains provisions that prevent political subdivisions from altering established noise pollution limits, imposing new requirements that do not apply to data centers, or making changes to zoning regulations. Additionally, the Blockchain Basics Act does not classify staking services as securities within Nebraska.
In addition to these measures, the bill seeks to safeguard the rights of every investor to self-custody their cryptocurrency assets and offers protection against burdensome cryptocurrency taxation in Nebraska.
In parallel efforts to create a fair and ethical framework, California State Senator Steve Padilla introduced two bills on January 4th to govern artificial intelligence (AI) service providers operating within the state. Senate Bill 892 calls for California’s Department of Technology to establish safety, privacy, and nondiscrimination standards for AI services within the state, while Senate Bill 893 seeks to establish an AI research hub in California through collaboration between the Government Operations Agency, the Governor’s Office of Business and Economic Development, and the Department of Technology.
Senator Padilla emphasized that these legislative proposals are intended to prevent a concentration of power in the hands of a few companies in shaping the future of AI. He stated that AI is a public good that should benefit all of society, and public investments are necessary to prevent a small group of billionaires from controlling its development.
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