Montana Crypto Mining Bill Awaits Governor’s Signature
The bill, seeking to enshrine crypto miners’ rights in Montana, United States, successfully passed the third reading in the state’s House of Representatives. Now, the only thing that is required for it to become law is the Governor’s signature.
Bill 178: Prohibiting Local Authorities from Obstructing Crypto Mining Operations
Bill number 178, prohibiting local authorities from obstructing the crypto mining operations, was voted in during the third reading by 64 votes versus 35 votes on Apr. 12. The legislation has already passed through Senate voting in February. It now will make it to the table of Governor Greg Gianforte. While Gianforte has a right to veto the bill, he belongs to the Republican party, as does the bill sponsor, state Senator Daniel Zolnikov.
Establishing a “Digital Asset Mining Right”
The suggested legislation aims to establish a “digital asset mining right” while also forbidding any discriminatory electricity rates charged to cryptocurrency miners. Additionally, it seeks to safeguard mining operations that take place “at home” and remove the authority of local governments to utilize zoning laws to impede crypto-mining activities.
Categorizing “Digital Assets” as “Personal Property”
The bill also bars any extra taxes on the utilization of cryptocurrency as a means of payment and categorizes “digital assets,” comprising cryptocurrencies, including stablecoins, as well as non-fungible tokens (NFTs), as “personal property.”
Amended Draft of the Bill: Limiting Local Authorities’ Power
The amended draft of the bill contains one major change in comparison to the original draft — Section 3 was significantly shortened. The old version of Section 3 occupied almost three full pages and contained a number of articles, which had nothing to do with the topic of crypto mining. Now Section 3 outlines three specific areas, limiting the power of the local authorities. They won’t be able to impose on mining centers any requirements different from those of data centers. And they might not prevent crypto mining both in industrial areas and in private homes.
Similar Legislation in Arkansas
In early April, a bill, protecting crypto miners from discriminatory regulations and taxes, has passed through the House of Representatives and Senate in the state of Arkansas and now is also awaiting a Governor’s decision.
Conclusion: A Step Forward for Crypto Mining Rights in the US
The Montana crypto mining bill’s successful passage through the House of Representatives, coupled with the similar legislation in Arkansas, marks a significant step forward for cryptocurrency mining rights in the United States. If signed into law by Governor Greg Gianforte, it will not only pave the way for Montana to become a more miner-friendly state, but it could also set a precedent for other states to follow suit. Ultimately, this development has the potential to boost the growth and adoption of digital assets across the nation.
