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HB 823

Kentucky House•Introduced

Summary

HB 823, aN ACT relating to digital asset wallets, was introduced in the House on Mar 3, 2026 by Rep. Tom Smith (R). It was referred to Banking and Insurance, and last saw action on Mar 10, 2026: to Banking & Insurance (H).

Record

Text

HB 823 has no co-sponsors and has not gone to a roll call.

hb823/introduced.txt
UNOFFICIAL COPY  26 RS BR 2476
AN ACT relating to digital asset wallets.
 Be it enacted by the General Assembly of the Commonwealth of Kentucky:
SECTION 1. A NEW SECTION OF KRS 369.130 TO 369.139 IS CREATED
 TO READ AS FOLLOWS:
 (1)    As used in this section, "wallet provider" or "provider" means a person that
offers or provides a wallet.
 (2)    A wallet provider:
(a)    Shall:
1.        Provide live customer service via a toll-free telephone number during
operating hours, which shall not be less than the hours between 8:00
a.m. and 10:00 p.m. local time within the Commonwealth; and
2.        Provide a mechanism for, and assist any person who owns a wallet
that was provided by the provider with, resetting any password, pin,
seed phrase, or other similar information that is necessary to access
the contents the self-hosted wallet; and
(b)    May require any person requesting assistance under paragraph (a)2. of this
subsection to verify the person's identity prior to providing the assistance by
means other than providing the password, pin, seed phrase, or other
information.
 (3)    (a)    A violation of this section shall be deemed to be an unfair, false, misleading,
or deceptive act or practice in the conduct of trade or commerce in violation
of KRS 367.170.
(b)    All of the remedies, powers, and duties provided to the Attorney General or
any other person under KRS 367.110 to 367.300, and the penalties provided
in KRS 367.990, pertaining to acts and practices declared unlawful by KRS
367.170, shall apply with equal force and effect to a violation of this section.
 (4)    (a)    The remedies and penalties prescribed in this section shall be cumulative.
  Page 1 of 2
 XXXX 3/3/2026 9:34 AM  Jacketed
UNOFFICIAL COPY  26 RS BR 2476
(b)    This section shall not be construed to limit or restrict the powers, duties,
remedies,   or   penalties   available     to   the   Attorney   General,     the
Commonwealth, or any other person under any other statutory or common
law.
 (5)    The Attorney General may promulgate administrative regulations in accordance
with KRS Chapter 13A necessary to effectuate, or as an aid to the effectuation of,
the proper enforcement of this section.
  Page 2 of 2
XXXX 3/3/2026 9:34 AM  Jacketed

Create a new section of KRS 369.130 to 369.139 to define "wallet provider"; require wallet providers to provide live customer service during operating hours and to provide a mechanism for, and assistance with, resetting any password, pin, seed phrase, or other similar information necessary to access the contents of a wallet; provide that a violation of the section is an unfair, false, misleading, or deceptive trade practices in violation of KRS 367.170; provide that the remedies and penalties are cumulative; authorize the Attorney General to promulgate administrative regulations for the proper enforcement of the section.

Sponsors

Rep. Tom Smith (R) sponsors HB 823 alone.

Tom Smith

Rep. · R–86 · Sponsor

Committees

HB 823 went before 2 committees: Committee On Committees and Banking and Insurance.

Committee On Committees
Committee On Committees
Referred to · Mar 3, 2026 · 52 Bills
Banking and Insurance
Banking and Insurance
Referred to · Mar 10, 2026 · 33 Bills

History

HB 823 has taken 3 actions since Mar 3, 2026, the latest on Mar 10, 2026.

ChamberAction
Mar 10, 2026
House
to Banking & Insurance (H)
Mar 3, 2026
House
introduced in House
Mar 3, 2026
House
to Committee on Committees (H)

Votes

HB 823 has not gone to a roll call.

Source: apps.legislature.ky.gov · legiscan.com