Crypto miners in Montana may soon have dedicated "digital asset mining right."
A bill designed to protect cryptocurrency miners' rights has successfully passed Montana's House of Representatives and now awaits the Governor's approval to become law.
The third reading and voting for Bill 178 took place on April 12th at the Montana House of Representatives, with 64 legislators voting in favor of the proposal and 35 against it.
Did you know?
Want to get smarter & wealthier with crypto?
Subscribe - We publish new crypto explainer videos every week!
How to Track Cryptocurrencies? (3 BEST Tracking Platforms Revealed)
Previously, in February, the bill was approved by the state's Senate. Governor Greg Gianforte will now decide whether to sign the bill into law. While Gianforte can veto the legislation, many experts doubt such a move, considering that both the governor and bill sponsor are Republicans.
The bill's primary objective is to establish a "digital asset mining right," which includes preventing discriminatory electricity rates for cryptocurrency miners. On top of that, the legislation aims to safeguard at-home mining operations and limit the local government's ability to use zoning laws to obstruct crypto-mining activities.
Moreover, the bill prohibits imposing extra taxes on cryptocurrency usage as a means of payment and classifies "digital assets" – such as cryptocurrencies, stablecoins, and non-fungible tokens (NFTs) – as "personal property."
It is worth highlighting that there is a notable difference between the original draft and the amended version of the bill. The new version has significantly shortened Section 3.
The updated section now details three specific areas limiting local authorities' power. These restrictions include barring local authorities from imposing different requirements on mining centers compared to those on data centers and preventing them from interfering with crypto mining operations in industrial areas and private residences.
As the bill now awaits Governor Greg Gianforte's decision, it mirrors the progress of a similar bill in Arkansas that has passed both the House of Representatives and Senate.
However, almost 1,500 miles away in Texas, things are slightly more different when it comes to crypto miners. The state's Senate has recently passed a bill removing incentives for cryptocurrency miners.
