Montana Senate to pass a law to protect the crypto mining rights
Montana senate passed the bill, to safeguard the mining rights of crypto miners, which is now in the house for the Governor to sign into law.
The bill comprises laws to protect the crypto miners from irrational prejudice and fortunately, the Montana senate might pass the bill anytime soon.
Furthermore, the laws will encourage the miner’s right to mine digital assets and forsake any biased behavior towards them like raising electricity charges for crypto miners it also deprives the local government of the right to stop crypto mining operations with zoning laws and also protects mining from homes.
The law will abstain people from applying additional taxes on using cryptocurrency as a payment method. Moreover, all sorts of digital assets for instance cryptocurrency or NFTs, are not different from other financial investments like stocks and bonds because they are considered the owner’s personal property.
A pro-Bitcoin group, Satoshi Action Fund helped write the bill. The Senate passed the bill on Feb 23, with 37 votes in favor and 13 votes against. however, the bill will become law as soon as Governor Greg Gianforte signs it, and it is still in the house because the majority of the members accepted the bill.
The bill highlighted certain important issues such as protecting the miner’s rights and also creating legal certainty as mining contributes to the economic value in a positive way and it may perhaps stabilize the grid and generate revenue to upgrade the infrastructure.
Missoula County in Montanna establish rules in April 2019 that required miners to utilize renewable energy and to only work in light and heavy industrial districts. If the Bill passes it will invalidate the zoning ordinance of the county.
Earlier in February Mississippi state senate passed a bill that is now on its way to the states House. It was also similar to the Bill passed by the Montana senate as it urged to protect mining rights and refrain from discrimination. Meanwhile, the Missouri state legislature introduced a Digital asset mining protection act in Mid-January.