With the cryptocurrency industry constantly evolving, various parties hold differing perspectives on the ecosystem. While some view it as a scam, others recognize its immense potential and envision a bright future for the industry.
In recent news, Montana, a western state, has shown support for the potential of the cryptocurrency industry. On Thursday, the state passed a bill designed to protect the rights of cryptocurrency miners. This bill is particularly significant at a time when crypto traders face potential discrimination. The proposed legislation grants Montana-based crypto miners the right to mine digital assets.
In addition, the proposed bill prohibits discrimination against crypto miners with respect to electricity rates and also seeks to protect home mining activities. Additionally, the bill aims to curb the ability of local governments to limit at-home mining or use zoning regulations to shut down active crypto mining operations.
The proposed bill aligns with Missoula’s earlier 2020 proposal, which required all bitcoin miners in the state to acquire or construct renewable energy facilities equivalent to the amount of energy consumed during their operations. The bill is expected to have a positive impact on the crypto mining industry in Montana by promoting the use of renewable energy and safeguarding the rights of miners.
Currently, the Montana bill has garnered 37 votes in favor and approximately 13 votes against it. If the bill is passed by the House of Representatives, it will proceed to the final stage, where it must be signed into law by Governor Greg Gianforte. The bill’s approval by the House would result in the elimination of an additional tax on cryptocurrency transactions and establish digital assets like crypto and NFTs as “personal property,” similarly to bonds and stocks.
