• Montana has recently passed a bill aimed at the protection rights of cryptocurrency miners.
• The proposed bill is said to also favor Missoula’s recently proposed bill passed in 2020.
• Last week, Mississippi senate also passed a bill with similar intent.
Montana Passes Bill Favoring Crypto Miners
The western state of Montana has just passed a new bill that is aimed at protecting crypto miners’ rights. This comes as good news for crypto traders who were feeling exposed to possible discrimination.
What Does the Bill Entail?
The new bill states that crypto miners should be given the “right to mine digital assets” and forbids any form of discrimination against them over electricity rates charged. It also prevents local government from using zoning laws to close active operations of crypto mining or restrict home mining. Additionally, it will terminate an additional tax on cryptocurrency payments and mark digital assets such as cryptocurrencies and NFTs as “personal property” just like bonds and stocks.
Votes In Favor Of The Bill
So far, the Montana bill has only received 37 votes in its favor and about 13 against it. Should the House of Representatives pass it, the Governor Greg Gianforte will have to sign it into law for it to become official policy in the region.
Mississippi Senate Also Passes Similar Bill
Last week, Mississippi senate also passed a similar bill that permits crypto-mining equipment installation without having to go through any extra regulations other than those required by local authorities for other businesses.
With this new law being proposed in Montana, several states are now taking steps towards protecting crypto miners’ rights while promoting their activities within legal boundaries established by respective governments around the world. It remains unclear whether this new legislation would be implemented by other states but only time will tell what kind of impact this could have on cryptocurrency adoption globally!