Montana Senate Approves “Right to Mine” Bill to Protect Miners

Montana State is working on legalizing cryptocurrency mining and protecting the rights of miners in the state with new legislation. The state’s Senate has now passed a crypto bill dubbed “Right to mine” on February 23 after 37 members voted for it while another 13 voted against it. 

Additionally, the proposed law will prohibit discriminatory electricity rates from being charged to crypto miners as well as serve as a protection against mining that takes place in homes. Likewise, the law will allow miners freedom to carry out mining operations, ceasing powers from local governments who want to use zonal law to stop mining operations.

Interestingly, the proposed law will put an end to the extra taxes on the use of crypto as a payment method and would regard digital assets, cryptocurrencies, and Non-fungible Tokens (NFTs) as personal property, not excluding other financial products.

Montana Set to Embrace Crypto Mining

The pro-crypto bill which has overwhelming support from the lawmakers will become law after it’s approved by the house and the State Governor, Governor Greg Gianforte.

Activities of crypto miners across the globe and in the United States in particular have always come under criticism especially as it regards energy consumption and environmental concerns. However, if the “Right to mine” bill becomes law, it will encourage mining activities and show that Montana is open to embracing the digital asset mining industry.

Before now, leaders in Montana have deployed zoning laws and other policies including higher electricity rates to try and shut out mining activities

The bill was led by the Bitcoin (BTC) advocacy group Satoshi Action Fund. Dennis Porter the CEO of the group is an advocate for friendlier crypto regulations across the United States. The group has been active behind bills under consideration in several states including Mississippi, New Hampshire, Montana, Missouri, and Oklahoma.

Recall that a few days ago, Kazakhstan announced the introduction of a new law to mitigate tax fraud and any illicit business operations in the ecosystem after saying that crypto mining in the country won’t be taxed until it is exchanged for fiat currency.

The new law which was signed by the leader of Kazakhstan will enable digital asset issuers who have been deemed secured to receive authorization from the government before proceeding to roll out their services.