Nebraska Legislators Introduce Bill to Aid Bitcoin Mining in Residential Properties
Nebraska has introduced a bill that seeks to reshape the state’s crypto and Bitcoin mining structures, licenses, and ownership.
On Jan 5, Eliot Bostar, a Nebraska State Senator, introduced the bill to the house, which will practically adopt the Blockchain Basics Act in the state, ushering in new industry standards in the fields amid wider regulations.
According to several commentators, the bill will create a framework to recognize the fundamental rights of Bitcoin holders, encouraging a thriving ecosystem and ensuring freedom.
BIG ₿REAKING: Nebraska Introduces Bill to Protect Your Fundamental #Bitcoin Rights to self-custody, mine, and run a node!
Nebraska has now officially introduced a bill championing the rights of Bitcoin users. This bill is very similar to the bill that was announced earlier this…
— Dennis Porter (@Dennis_Porter_) January 5, 2024
The new Nebraska bill re-affirms the right to self-custody of assets, aiming to reinforce the decentralized nature of the market. A major significance of this is the increased legal backing of the asset class following recent institutional inflow on the back of a potential spot ETF approval.
It has also been argued, as a counter to Better Market’s ETF approval position, that the sector needs this move to drive more regulatory nods, as virtually everyone can buy Bitcoin at the moment.
Dennis Kelleher, the CEO of Better Markets, urged the Securities and Exchange Commission (SEC) not to approve a spot Bitcoin ETF, claiming that it goes against the core principles of the Commission.
The body argued that it could lead to massive investor scams and market manipulation, stating that the industry needs U.S. government approval for its products.
“We submit this supplemental comment letter
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