Technology (Emerging Technology)

HB 825 amends Kentucky law to update the definitions of digital assets and related blockchain terminology. The bill directly affects individuals, businesses, and financial institutions operating within the state by clarifying what terms like cryptocurrency, stablecoins, and smart contracts mean in legal contexts. Key provisions include establishing specific definitions for hardware wallets, self-hosted wallets, and third-party wallets, as well as defining staking and staking as a service. These changes aim to provide clearer legal language for existing statutes rather than creating new regulations or tax rules.