Legislative Bill 911, introduced by Nebraska Senator Eliot Bostar on January 5, aims to enact the Blockchain Foundation Act, seeking to establish fundamental encryption standards within Nebraska. The bill's primary objective is to create a secure and legal environment conducive to cryptocurrency mining, holding, and trading activities for the state's residents.
Under the proposed Blockchain Foundation Act, individuals would have the liberty to host blockchain nodes and engage in cryptocurrency mining operations on residential properties without the necessity of obtaining a license. However, all operators must adhere to local noise regulations. Contrarily, cryptocurrency businesses will be confined to operating within specifically designated industrial zones. The bill explicitly prohibits political subdivisions from surpassing existing noise pollution limits or implementing new zoning changes that don't pertain to data centers.
Moreover, the act is poised to classify staking services differently, not categorizing them as a security in Nebraska. Additionally, it would secure investors' rights to self-custody and provide defenses against the state's discouraging crypto tax measures. While Senator Bostar aims to foster a fair playing field for cryptocurrencies in Nebraska, California Senator Steve Padilla proposed two bills on January 4 to establish a "secure and ethical" setting for artificial intelligence (AI) service providers operating within the state.
Senate Bill 892, if enacted, would mandate the California Department of Technology to develop robust security, privacy, and non-discrimination standards specifically tailored for AI services in the state. Senate Bill 893, on the other hand, would necessitate the establishment of an artificial intelligence research center within California, led by the Office of Government Operations, the Governor’s Office of Commerce and Economic Development, and The Ministry of Technology.
Senator Padilla highlighted that these proposed legislations aim to avert monopolization by a select few companies in determining the future course of artificial intelligence. He emphasized the importance of this being a public good that must benefit the entire society. Padilla emphasized the need for public investments to prevent the dominance of a handful of billionaires in shaping the future of artificial intelligence.
