Montana passes “right to mine” crypto bill

Montana’s state senate passed a bill on Feb. 23 to protect individuals’ and businesses’ right to engage in cryptocurrency mining.

The bill specifically aims to prevent the government from imposing higher electricity rates on crypto miners and imposing additional taxes on cryptocurrencies. It also seeks to ensure that mining firms can operate in industrial zones and that individual miners can operate in residential areas (with an exception for noise complaints).

The bill passed with 37 votes in favor and 13 votes opposed.

It was backed by Dennis Porter, CEO and co-founder of the Satoshi Action Fund. Porter wrote today that the bill must now pass in the house and be signed by the governor.

The pro-crypto bill may counteract an earlier Missoula County law that has introduced new environmental zoning regulations and affects mining.

Montana appears to be a reasonably popular destination for industrial crypto miners. Firms including Madison River Equity, Marathon Digital, Atlas Power, Bitzero, and Project Spokane have operated, attempted to operate, or formerly operated in the state.

Other states have attempted to restrict or liberalize crypto mining laws. In mid-2022, New York passed a bill to restrict crypto mining. Meanwhile, Mississippi passed a bill to prevent discriminatory mining laws earlier this year.

Source link


Latest articles

Related articles

Leave a reply

Please enter your comment!
Please enter your name here