United States of America: Introduced Blockchain Basics Act (LB991)

On 5 January 2024, the Blockchain Basics Act (LB991) was introduced to the Senate of Nebraska. The legislation aims to establish regulations fostering a secure and lawful environment for cryptocurrency mining, holding, and trading for the residents of Nebraska. Under the Blockchain Basics Act, individuals would be permitted to host blockchain nodes and conduct crypto mining operations in residential properties without the need for licenses. However, operators would still need to adhere to local noise ordinances. Conversely, crypto businesses would be mandated to operate exclusively from designated industrial zones. The bill also prevents political subdivisions from surpassing existing sound pollution limits, imposing additional requirements not applicable to data centers, or making zoning changes. Moreover, the Blockchain Basics Act in Nebraska excludes staking services from being classified as securities, forbids the imposition of further tax, and exempts crypto transactions under USD 200 from income tax.