Montana Senate Passes Crypto Bill
Montana has passed a landmark bill to protect Bitcoin and crypto mining rights, marking a significant step towards aiding the development of crypto-mining infrastructures within its borders. The “Right to Mine” crypto bill was passed by a landslide vote of 37-13, with the aim of protecting crypto mining companies from being overcharged by energy companies, which could encourage mining practices in the state.
BREAKING: The Montana Senate has passed the ‘Right to Mine’ #Bitcoin bill by a landslide vote of 37-13. pic.twitter.com/Gk367kiSRu
— Satoshi Action (@SatoshiActFund) February 23, 2023
Montana Passes Crypto Bill
The bill was led by Dennis Porter and the Satoshi Action Fund, who worked with lawmakers to establish this vital legislative action. They are pleased with the result and determined to get similar legislation passed in multiple states, creating a more consistent legislative approach to mining practices throughout the country.
The bill officially prohibits “discriminatory digital asset mining utility rates” and “local government powers related to digital asset mining,” as well as “taxation on the use of cryptocurrency as a payment method.” It also notes that “Digital asset mining provides positive economic value for individuals and companies throughout the United States.”
Montana Protects Crypto Mining Rights
Montana State Senator Daniel Zolnikov said, “This is common sense legislation that protects Digital asset mining businesses from discrimination not faced from other industries.” He added, “These protections, along with clarifying tax law in relation to digital assets when used as payment, will plant a flag in Montana that we are open to embracing the digital asset mining industry.”
Crypto mining has long been a source of conflict between state governments and the industry in the US. The passing of this bill in Montana is a significant step forward for crypto mining and should work to aid crypto mining companies in embracing Montana as a viable setting for their operation. The Satoshi Action Fund believes that it is critical to provide regulatory certainty for the mining industry, and this bill is a step in the right direction.
