The Montana state senate has officially passed a bill to protect Bitcoin and Crypto mining rights. The bill was led by Dennis Porter and the Satoshi Action Fund and was passed by a landslide vote of 37-13.
The “Right to Mine” Bitcoin bill was designed to protect crypto mining companies from “discriminatory digital asset mining utility rates,” it reads. Specifically, protecting crypto mining operations from being overcharged by energy companies, thus encouraging mining practices in the state.
Montana Passes Landmark Mining Bill
Crypto mining has long been a source of conflict between state governments and the industry in the US. Now, one state has taken steps in aiding the development of crypto-mining infrastructures within its borders. The Montana state senate has officially passed a bill to protect Bitcoin and crypto mining rights.
The “Right to Mine” crypto bill was passed today and is set up to protect crypto mining companies from unfair charges. Specifically, the legislation will revise crypto laws to prohibit “discriminatory digital asset mining utility rates,” within the state. The passing of the bill was led by Dennis Porter and the Satoshi Action Fund, who worked with lawmakers to establish this vital legislative action.
“Satoshi Action Fund is pleased with the result in Montana. It is critical to provide regulatory certainty for the mining industry,” Porter told Watcher.Guru. “We have been working diligently to ensure that bitcoin miners have the right to mine across the USA. There is still more work to be done in Montana, but as a new organization we feel confident about ht progress we have made.”
“I am pleased the Montana Senate passed SB 178 with overwhelming support,” Montana State Senator Daniel Zolnikov stated. “This is common sense legislation that protects Digital asset mining businesses from discrimination not faced from other industries.”
Conclusively, Zolnikov added, “These protections, along with clarifying tax law in relation to digital assets when used as payment, will plant a flag in Montanat that we are open to embracing the digital asset mining industry.”
Porter and Satoshi Action Fund are clear in their determination to get similar legislation passed in multiple states. Hopefully creating a more consistent legislative approach to mining practices throughout the country.
Montana’s senate bill officially prohibits “local government powers related to digital asset mining,” as well as “taxation on the use of cryptocurrency as a payment method,” it states. Moreover, it notes that “Digital asset mining provides positive economic value for individuals and companies throughout the United States.”
The bill has been in consideration for the past few weeks and is a large step forward for crypto mining. Subsequently, its passing should work to aid crypto mining companies in embracing Montana as a viable setting for their operation.