• Montana recently passed a bill that grants protection rights to crypto miners.
• The bill forbids discrimination of crypto miners over electricity rates charged and protects the act of home mining.
• It also neutralizes the local government’s power to restrict at-home mining or close active operations of crypto mining.
Montana Passes Bill To Protect Crypto Miners
The western state of Montana has recently passed a bill that looks to protect the rights of cryptocurrency miners. This comes at a time when crypto traders are facing possible discrimination, and thus provides an extra layer of security for those in the industry.
What Does the Bill Do?
The proposed bill gives crypto miners the „right to mine digital assets,“ as well as forbidding any form of discrimination when it comes to electricity rates charged for their activities. Additionally, it neutralizes any power that local governments may have in restricting at-home mining activities or using zoning laws to shut down active operations.
Similar Bills Passed Elsewhere
This isn’t the only region looking out for cryptocurrency miners – last week, Mississippi’s senate passed a similar bill allowing for installation of crypto-mining equipment without getting permission from municipalities first.
Discrimination Tax Terminated By Bill
Should this Montana bill get passed by House Representatives and signed into law by Governor Greg Gianforte, then an additional tax on use of cryptocurrency as payment will be terminated, with digital assets such as crypto and nonfungible tokens being labeled as „personal property“ like other financial products like bonds or stocks.
Conclusion
The proposed bill is aimed at protecting cryptocurrency miners from possible discrimination while providing them with more freedom in terms of their activities. Should it be approved by House Representatives and signed into law by Governor Gianforte, then numerous benefits will arise for those working in this sector – including an end to additional taxes on using cryptocurrencies as payment methods and better recognition for these digital assets as personal property.