Kentucky Crypto ATM Regulatory Bill Sparks Controversy, Hardware Wallet Reset Clause Faces Industry Opposition

GateNews

2026-03-19 20:52:50

Gate News: On March 19, a bill in Kentucky, HB 380, aimed at regulating cryptocurrency ATMs, sparked controversy due to new provisions. The clause requires hardware wallet providers to assist users in resetting access credentials, including seed phrases. Industry experts point out that this regulation conflicts with the design principles of non-custodial wallets and could undermine self-custody mechanisms. The bill has passed the House and is currently under review in the Senate, and the contentious provisions may still be amended or removed.

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