• Montana’s state senate passed a bill on February 23 to protect the right to engage in cryptocurrency mining.
• The bill seeks to prevent additional taxes or higher electricity rates on miners, allowing them to operate in industrial zones and residential areas.
• Other states have attempted to restrict or liberalize crypto mining laws, with New York recently passing a bill to restrict crypto mining and Mississippi passing a bill to legalize it.
Montana Passes „Right To Mine“ Crypto Bill
Montana’s state senate passed a bill on Feb. 23 in order to protect the right of individuals and businesses to engage in cryptocurrency mining. The legislation was backed by Dennis Porter, CEO and co-founder of the Satoshi Action Fund, who wrote that the bill must now pass in the house and be signed by the governor before becoming law.
Aim of Bill
The goal of this new bill is to ensure that governments may not impose higher electricity rates on crypto miners nor may they impose additional taxes on cryptocurrencies. It also seeks to guarantee that mining firms can operate in industrial zones and that individual miners can operate in residential areas (with an exception for noise complaints).
Previous Local Law Affecting Mining
The passage of this pro-crypto bill comes after an earlier Missoula County law which introduced new environmental zoning regulations affecting mining operations within its jurisdiction. This new state-level legislation should override any local restrictions, however.
Popularity of Industrial Mining In Montana
Montana appears to be a reasonably popular destination for industrial crypto miners, with firms such as Madison River Equity, Marathon Digital, Atlas Power, Bitzero, and Project Spokane operating or formerly operating there.
Cryptocurrency Mining Laws Around The Country
Other states have attempted to regulate cryptocurrency mining laws differently – some restricting it while other legalizing it – with New York recently passing a law that restricts crypto mining activities while Mississippi passed one which legalizes it earlier this year..